BRUSSELS, Feb 23 (Bernama-BUSINESS WIRE) — Syntagma Capital today announces that it has entered into exclusive negotiations with Eramet, to acquire Erasteel (https://www.erasteel.com). The business is a global leader in theconventional and powder metallurgy of high-speed steels used for high performance machining, drilling and cutting tools. In addition, Erasteel has unique metal recycling capabilities in Europe, offering sustainable solutions for the recovery of batteries, catalysts and metals. The business employs ca. 850 employees across its six sites in France, Sweden, and China. In 2022, Erasteel generated ca. €275m in revenues serving primarily the aerospace, automotive and industrial sectors.
The proposed transaction, which will be submitted to the required information and consultation of works councils, is subject to definitive agreement which will include the fulfillment of customary closing conditions, including regulatory approvals, and would be expected to be completed by the end of the first half of 2023.