Acerinox, through its wholly owned US subsidiary North American Stainless (NAS), completed the acquisition of Haynes International (Haynes), a leading US manufacturer and marketer of technologically advanced high-performance alloys.
Acerinox reported significant benefits related to its acquisition of Haynes International. The transaction is expected to generate synergies of an estimated $71 million annually and the addition of a comprehensive patent portfolio and certifications that enhance the company's research and development strengths. It was also announced that the combination of complementary elements creates additional value, expanding US operations and increasing distribution capacity. Haynes' extensive experience in the industry, strong customer portfolio and high-quality service approach is expected to be an important support for Acerinox's growth ambitions.
Bernardo Velázquez Herreros, Chief Executive Officer of Acerinox, stated: “Haynes has built a leading high-performance alloys business. Their addition to Acerinox strengthens our global position in this segment, creating opportunities for growth in the aerospace sector and in the attractive U.S. market. Haynes has a committed and highly qualified and experienced team, that fits culturally with the values of our Group. This transaction will enable us to broaden the range of products that we offer.”
Michael L. Shor, President and Chief Executive Officer of Haynes emphasized: “For over 112 years, Haynes has been at the forefront of the high-performance alloy industry, and today’s announcement sets the foundation for our future, ensuring that we will be able to better serve our customers through increased capacity and an even broader portfolio of products, applications and services.”
Acerinox's High Performance Alloys (HPA) Division is reported to be formed by Haynes and VDM Metals. The integration of Haynes supports Acerinox's strategic priorities and will focus on developing the aerospace sector with high performance alloys. Acerinox plans to invest approximately $200 million over four years to create an integrated high-performance alloy and stainless-steel platform. Most of these investments are announced to be made at Haynes' Kokomo operations.
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