 |
| Aperam |
In a bold move to strengthen its position in the high-performance alloys market, Luxembourg-based Aperam has announced its acquisition of Pennsylvania’s Universal Stainless & Alloy Products (USAP) for $415 million in cash. This acquisition is a strategic entry into the US aerospace market, an industry known for its long-term growth potential and demand for specialized materials.
Acquisition Highlights
Aperam will acquire USAP at $45 per share, with the transaction slated to close in the first quarter of 2025. Aperam’s CEO, Timoteo Di Maulo, expressed confidence that the acquisition would allow Aperam to offer advanced stainless steel solutions for the aerospace sector, leveraging USAP’s expertise and extensive orderbook.
USAP, renowned for its high-quality specialty and stainless steel products, will continue to operate independently, with no immediate restructuring planned. Di Maulo highlighted the synergies between Aperam’s existing nickel alloy operations and USAP’s aerospace-focused supply chains, which feature longer lead times and more complex logistics.
European Interest in US Aerospace
Aperam’s acquisition is the second significant European move into the US aerospace market in 2024. Earlier this year, Spanish steel producer Acerinox announced its intent to acquire Haynes International, a developer of high-performance alloys, for $147.7 million. However, that deal has faced regulatory delays in the UK and Austria, pushing its completion to Q4 2024.
Implications for the Industry
Aperam’s expansion reflects the increasing demand for high-grade materials in aerospace, particularly as the industry recovers and grows globally. By securing a foothold in the US market, Aperam enhances its ability to meet aerospace industry demands while broadening its influence in the high-performance stainless steel segment.
This acquisition underscores the growing competition among global steelmakers to capture market share in specialized industries such as aerospace and defense.
Tags
NONFE
