Acerinox to Acquire Haynes International
Retrieved on:
Monday, February 5, 2024
Acerinox, a leading global company in the manufacturing and distribution of stainless steel and high-performance alloys, today announced that it has entered into a definitive agreement under which Acerinox’s wholly owned U.S. subsidiary – North American Stainless (“NAS”) – will acquire Haynes International (“Haynes”), a U.S. leading developer, manufacturer, and marketer of technologically advanced high-performance alloys, in an all-cash transaction.
Key Points:
- Acerinox, a leading global company in the manufacturing and distribution of stainless steel and high-performance alloys, today announced that it has entered into a definitive agreement under which Acerinox’s wholly owned U.S. subsidiary – North American Stainless (“NAS”) – will acquire Haynes International (“Haynes”), a U.S. leading developer, manufacturer, and marketer of technologically advanced high-performance alloys, in an all-cash transaction.
- The transaction has been unanimously approved by the Boards of Directors of Haynes and Acerinox.
- Their addition to Acerinox strengthens our global leadership in high-performance alloys and creates meaningful opportunities in the high-growth aerospace segment and the attractive U.S. market,” Bernardo Velázquez Herreros, Chief Executive Officer of Acerinox, said.
- Upon completion of the transaction, Haynes’s shares will no longer be traded on the Nasdaq, and Haynes will become a wholly owned subsidiary of Acerinox.