Last week, we signed a definitive agreement to acquire Universal Stainless & Alloy Products Inc (USAP) expanding our manufacturing footprint into the United States and aerospace markets. The deal is subject to regulatory and shareholder approvals and is expected to close in H1 2025.
I will hold the euphoria for a second and present you a peek behind-the-headlines: In the depth of the COVID crisis, we sat together as leadership at Aperam and came to a simple realization. Our production assets are core to our existence, but the ability of our people to be agile and to innovate is what differentiates us from our competition.
This thought freed us to think in terms of opportunities - be it developing the most advanced stainless steel for EVs in the heart of Europe or extracting Bio-Oil from trees in our forests in Brazil. Today our work is seen and felt in heat pumps, LNG tankers, desalination plants, battery-cases or almost every aircraft engine in the western hemisphere. As much as a testament to our ability to innovate, it is our ability to keep our heads down and get things done which has gotten us here, recession and inflation notwithstanding.
Our plan is simple - be the most cost efficient in whatever we do, increase the value of the products we deliver to our customer and be as granular in our supply chain as possible. Thanks to all our stainless, alloys, distribution, recycling and forest teams that make sure that this doesn't remain just a plan.
This acquisition is a credit to each and every one of you across Aperam - people who worry day-in and day-out about delivery times to our customer, the quality of our product, wrapping up summer shutdowns on time, the growth of our R&D portfolio, the competitiveness of our consumables, the security of our information, the management of our credit or calculating the costs of running our business.
Thanks to you, Aperam can look at opportunities like USAP and expand into the US, into aerospace and into specialty stainless and alloys.
To the next few months closing this deal and to the years beyond - let's continue on this path of getting **it done....
Glückauf!
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3moPersa un’altra eccellenza della siderurgia italiana!!! C’è poco da applaudire ed essere felici. La siderurgia italiana si appresta ad ammainare le vele