Acciaierie Venete to acquire three production sites in France from Swiss Steel-backed Ascometal.

Acciaierie Venete, an Italian steel producer, agreed to acquire three production sites in France from Swiss Steel-backed Ascometal, a company that designs, manufactures and delivers worldwide, special long engineering steel products. Financial terms were not disclosed. The contemplated transaction aligns with Swiss Steel Group’s strategic focus on core business activities for further stabilization of the Group and long-term profitability. The transaction would allow Swiss Steel Group to strategically channel its investments into areas that promise sustained growth in alignment with its long-term vision and strengthening other production assets such as the French Ugitech.