Acerinox, a global leader in the manufacturing and distribution of stainless steel and high-performance alloys, has completed the acquisition of Haynes International, a leading developer, manufacturer, and marketer of technologically advanced high-performance alloys. The acquisition is expected to strengthen Acerinox’s global position in high-performance alloys and in the high-growth U.S. market and aerospace sector.
As part of the acquisition, Acerinox will invest approximately $200 million over the next four years in the newly combined U.S. business, with a focus on creating an integrated high-performance alloy and stainless-steel platform. The acquisition is also expected to result in estimated annual synergies of $71 million.
Haynes brings to the table powerful R&D capabilities and a significant portfolio of patents and certifications, in addition to strong relationships and a portfolio of loyal customers.
The integration of Haynes will form Acerinox’s High-Performance Alloys (HPA) Division in the future, supporting the company’s strategic priorities, including enhancing its operations in the U.S. market, high-performance alloys, and the aerospace sector.
With this acquisition, Acerinox aims to expand its range of products and ultimately enhance its overall performance. The company's CEO, Bernardo Velázquez Herreros, expressed excitement over the addition of Haynes, emphasizing the opportunities for growth in the aerospace sector and the attractive U.S. market.
Michael L. Shor, President and CEO of Haynes International, also highlighted the potential for better serving customers through increased capacity and a broader portfolio of products, applications, and services as a result of the acquisition.
This acquisition aligns with Acerinox’s commitment to innovation and growth, as it seeks to leverage the strengths and capabilities of Haynes to create additional value through the combination of complementary businesses.
As a result of the transaction, Acerinox is expected to benefit from Haynes’s historical and expected financial performance, delivering significant growth and margin enhancements. The company's investment in Haynes’s operations in Kokomo is particularly notable, as it demonstrates a commitment to strengthening its presence in the U.S. market.
The combination of Haynes and VDM Metals will further support Acerinox’s strategic priorities, particularly in the aerospace sector. The company's extensive production network, comprised of 12 factories, and its global commercial network in more than 80 countries, position it to capitalize on the potential synergies and opportunities resulting from the acquisition. Today the company's shares have moved 0.0% to a price of $60.99. For the full picture, make sure to review Haynes International's 8-K report.
