Mutares sells Buderus Edelstahl units to GMH Gruppe

Mutares announced the sale of two business units from its wholly owned subsidiary, Buderus Edelstahl, to GMH Gruppe. The divested units are the hot rolling mill and mechanical processing, including heat treatment. Additionally, the drop forging division was sold to FerrAl United Group, a subsidiary of Mutares Group.

Buderus Edelstahl, a manufacturer of high-quality special steels with annual revenues of approximately €360 million, has secured approximately 670 jobs at its Wetzlar site through these transactions. The sales follow successful optimizations and transformation measures implemented since Mutares's acquisition, positioning the units for further expansion within GMH Gruppe despite challenging market conditions in the steel industry.