24.01.2017

Teufelberger acquires Redaelli

Austrian rope group Teufelberger has agreed the acquisition of Italian wire rope specialist Redaelli Tecna from the Russian owner Severstal metiz, which has owned the business since 2008.

Redaelli was established in 1819 in Bonacina, north-west Italy as an iron works and wire drawing. It had revenues last year of €92 million compared to Teufelberger’s €180 million. Between the two of them they employ 1,280.

Redaelli has plants in Gardone and Trieste, Italy, a distribution centre in Castegnato, an engineering centre alongside its headquarters in Milan and subsidiaries in Brasil, China and the USA. Teufelberger manufactures in Austria, the Czech Republic, Thailand and the USA. It now specialises in the design and manufacture of wire ropes for the oil & gas industry both offshore and onshore as well as, mining, cableways, material transportation and operates a rope distribution business Teci. It also holds numerous Guiness world records for the largest and heaviest ropes.

The deal is expected to complete this spring, subject to antitrust clearances etc... Teufelberger says that this is most significant step forward in its 225 year history.

Chief executive Florian Teufelberger said: "We are convinced that Redaelli will be an enormous gain for Teufelberger. Together, we will now be able to offer customers a product portfolio of steel wire ropes and services that is unprecedented in the industry".

Redaelli managing director Giuliano Ambroset added: "With Teufelberger, we will become part of a long-term-oriented, stable family enterprise. The resulting synergies and the competences of Redaelli will open a wide range of opportunities for our companies".
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Florian Teufelberger (L) seals the deal with Giuliano Ambroset of Redaelli