Aperam Expands Alloy Division with Magnetec Group Acquisition

Aperam S.A., a key global player in stainless and specialty steel, has announced the acquisition of Magnetec Group, a producer of nanocrystalline soft magnetic components. This transaction is a strategic move to enhance Aperam's Alloys & Specialties division, particularly in the electrical and electronics markets. Magnetec, founded in 1984 and based in Hanau, Germany, was under preliminary insolvency proceedings prior to this acquisition. The company operates a vertically integrated value chain and serves industries across Europe, Asia, and the U.S., with facilities in several countries including Hungary and China.

The acquisition aligns with Aperam's growth strategy, building on existing capabilities in France and China. It promises to enhance product offerings and research capabilities, expanding their reach in energy, aerospace, and defense markets. Sud Sivaji, CEO of Aperam, highlighted the significance of this acquisition in advancing Aperam's transformation towards high value-added markets while implementing an innovation-driven approach.