SALZGITTER (dpa-AFX) - Steel group Salzgitter aims to expand its defense business through the acquisition of Thyrolf & Uhle GmbH. "This acquisition marks another step in our active portfolio management with targeted purchases in growth markets," said CEO Gunnar Groebler, according to a statement released on Wednesday. Germany and Europe require a powerful defense industry with a qualified materials base in order to assert themselves amid geopolitical upheavals, he added.
According to the company, Thyrolf & Uhle employs around 100 people in Dessau and manufactures steel components for ballistic protection, processing security-grade steel. The company offers a full range of services related to steel and
component construction, making it a perfect addition to the existing portfolio of
Salzgitter AG, the statement said. Financial details were not disclosed./mne/stk
