Swedish steel distributor Tibnor completes $68m purchase of Danish distributor Sanistål

Tibnor, the distribution arm of Swedish steelmaker SSAB, has increased its footprint in Denmark, following the completion of its acquisition of Sanistål, Denmark’s second largest steel distributor, it said on Thursday April 17.

The acquisition, worth around 630 million Swedish krona ($68.15 million), includes Sanistål’s automated steel distribution center in Taulov, Denmark, four sales offices in Denmark and a sales office and warehouse in Latvia. The acquisition was announced in November 2018 and the Danish competition authority approved it in March 2019. “The acquisition of Sanistål's steel distribution complements Tibnor's Nordic operations by increasing our market presence in Denmark, where we have not been so visible,” Tibnor chief executive officer Mikael Nyquist said. “The product...

Published

Viral Shah

April 18, 2019

13:55 GMT

London