Wickeder Westfalenstahl GmbH with its seat in Wickede (Ruhr) has sold its cold-rolled steel strip activities with an annual sales volume of more than 50.000 tons to the Waelzholz Group by means of an asset deal.
With its subsidiaries Wickeder Westfalenstahl, Auerhammer Metallwerk, Deutsche Nickel, micrometal and Engineered Materials Solution, the Wickeder Group which was founded in 1913 is in particular global market leader for plated clad materials and thermostatic bimetal strips. These are used in various industries, for example in building and architecture, in the electrical industry, the car industry or in the energy sector. By selling the cold-rolled steel strip business the company intends to focus on its main businesses, effectively expand these and invest in new fields of business.
The Waelzholz Group with its seat in Hagen is market leader in the field of high quality cold-rolled and heat-treated strip steel and strip profiles and currently manufactures in nine factories in six countries in Europe, North and South America as well as in Asia.
No comments were given regarding the purchase price.
Orrick regularly advises Wickeder Westfalenstahl in transactions.
Advisors Wickeder Group
Orrick, Herrington & Sutcliffe (Düsseldorf): Dr. Wilhelm Nolting-Hauff (Corporate, Leader), Dr. Till Steinvorth (Cartel Law), Dr. Stefan Schultes-Schnitzlein (Tax), Dr. André Zimmermann (Employment Law), Dr. Felix Schäfer (Real Estate); Associate: Dr. Johannes Rüberg (Corporate).