Aperam Acquires Magnetec, Accelerating in Nanocrystalline Components
Aperam has announced the acquisition of Magnetec Group, a producer of nanocrystalline magnetic components. This move expands the downstream activities of the group in the electrotechnical and electronic applications globally.
Strategic Acquisition Enhances Aperam's Capabilities
Aperam has acquired Magnetec Group, established in 1984 and headquartered in Hanau, Germany. Magnetec operates a vertically integrated value chain for nanocrystalline ribbons and cores. The group has manufacturing facilities in Hungary, Moldova, Vietnam, and China, serving clients in the automotive, energy, security, and general industry sectors across Europe, Asia, and the United States. Magnetec was undergoing insolvency proceedings at the time of the transaction. This acquisition strengthens Aperam's position in electrical engineering and electronics markets.
Expansion of Component Activities within Alloys & Specialties Division
The acquisition is a continuation of the development of component activities within the Alloys & Specialties division, already established in France and China. Aperam is a leader in energy applications with advanced manufacturing capabilities in France and India, and has expanded into aerospace and defense markets following the acquisition of Universal Stainless & Alloy Products in the United States. The integration of Magnetec broadens the group's exposure to electronic and engineering applications while consolidating its growth strategy focused on innovation. The combined activities will enhance the group's product offerings and research and development capabilities, as well as its supply chain resilience.
Comprehensive Value Chain for Nanocrystalline Ribbons and Cores
Magnetec operates a complete value chain for nanocrystalline ribbons and cores, with commercial and industrial presence spanning Europe, Asia, and the United States. Sud Sivaji, CEO of Aperam, stated that the acquisition represents a significant strategic step in the development of the Alloys & Specialties division, strengthening the group's position in high-growth electrical and electronic applications while advancing its transformation towards diversified, high-value, innovation-driven markets.
