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Marcegaglia acquires Novero Spa

Marcegaglia group completed the acquisition of 80% of the capital of Novero Spa, a Turin-based company specializing in the production of cold-drawn tubes.

The takeover of Novero Spa, which has a turnover of about 20 million euros and 80 employees, is part of the strengthening plan at the core business of Marcegaglia group, leader in the steel processing with more than 5.6 million tons processed each year.

The partnership between Marcegaglia and Novero family, which will keep Massimo Novero as CEO of the company, will arise in three years the new “Marcegaglia-Novero Spa” to a production of more than 20 thousand tons of cold-drawn tubes per year, compared to the current 12.5 thousand, with a turnover of more than 40 million euros.

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