Vesuvius completed the acquisition of a 61.65% stake in Piromet for €26m.

Vesuvius, a company specializing in molten metal flow engineering and technology, serving the steel and foundry industries, completed the acquisition of Piromet, a company specializing in the production and supply of refractory materials and related technologies, particularly for the steel and casting industries, for €26m. “This has been a challenging year for Vesuvius with Foundry markets in Europe, North Asia and the Americas weakening significantly and global Steel production outside China negatively affected by the sharp increase of Chinese steel exports. Despite this, thanks to significant cost cutting, resilient pricing and market share gains, we have delivered a robust performance, maintaining our results at the level of 2023 on an underlying basis, demonstrating again the strength of our technologically differentiated business model," Patrick André, Vesuvius CEO.