Thyssenkrupp bought another asset in North America

The largest manufacturer in Germany, Thyssenkrupp, announced the acquisition of non -ferrous metals merchant - the New York company Benmet. Companies do not disclose the cost of the transaction.

Thyssenkrupp said that the new American asset will significantly expand the presence of a German company in North and South America. Benmet specializes in the trade in color mixture and will now be able to expand its proposal taking into account the THYSSENKRUPP metal product nomenclature.

Benmet is focused on North America and primarily on the United States. The main clients of the company are manufacturers of alloys and alloy steels. Benmet logistics nodes are located in the USA, Mexico and Canada.

Thyssenkrupp insists that the grocery portfolio of the new American asset was supplemented by German steel as soon as possible. "This will strengthen our relations with local customers and suppliers, which will allow us to develop in the market and increase the share of existing and new products while maintaining strategic growth. In addition, we see great potential in the development of a new business in Cobalt trade in Europe."

Benmet President Derek Banham said that he supports ThyssenkrupP partner undertakings and hopes to expand the business he founded many years ago.

The German steel giant does not intend to change the management composition of his new American acquisition. Mr. Banham will continue to manage Benmet, said Thyssenkrupp.