Danieli invests in the development of its ABS steel division

Italian equipment producer Danieli is investing in the development of its steel division Acciaierie Bertoli Safau (ABS). This was discussed at the company’s innovation meeting, Kallanish reports.

In the next 2-3 years, ABS will invest about €600 million to reach a production volume of about 2 million tons with a turnover of €3 billion. Danieli and Acciaierie Bertoli Safau plan to increase their turnover by about 20-25% compared to 2023, to €5 billion, from the current level of about €4 billion, with an EBIDTA of 10%, said acting President of Danieli Group Alessandro Bruschi.

According to him, the plan is to strengthen its specialty steel production capacity.

«We are working to increase our offer in the machine building division, especially on products with a reduced carbon footprint for our customers, increasing the production of environmentally friendly steel. We have an order book of around €6 billion euros. Our goal is to maintain this level,» Brussi said.

Camilla Benedetti, Vice President of Danieli and President of ABS, said that the market is currently challenging, but customers are demanding more and more low-emission steel products, especially in the automotive sector, and are willing to pay a premium for them.

As GMK Center reported earlier, the Egyptian government is studying Danieli Group’s proposal to create a $4 billion integrated industrial steel complex. It includes the creation of facilities for the production of sponge iron, seamless steel pipes and flat products. This could provide about 17,000 direct and indirect jobs, which will be a significant boost to the country’s economy.