Tata Steel in Europe today announced it has completed the sale of Kalzip, a non-core business, which allows the company to continue to strengthen its focus on strategic strip products and markets.
Kalzip, an aluminium roofing and cladding business based primarily in Koblenz, Germany, has been purchased by Donges SteelTec GmbH in a move which sees the entire workforce transfer to the new owner. Tata Steel announced in May, this year, it was seeking a buyer for Kalzip and four other businesses which supply products to niche markets.
Hans Fischer, CEO of Tata Steel’s European operations, said: “I believe this is good news for Tata Steel and for Kalzip. The sale will allow Tata Steel in Europe to focus on its core strip products business and strategic markets while Kalzip will have the renewed focus it deserves to succeed.
“This sale is in line with previous divestments which allow us to concentrate resources on making significant improvements to our core business, as part of the ambition to develop the most sustainable steel business in Europe based on our IJmuiden and Port Talbot value chains.”
Tata Steel’s European operations will continue to employ about 21,000 people manufacturing advanced products for the automotive, construction, engineering and packaging sectors.