The SMS group finalized its takeover of the majority share in Paul Wurth on December 17, 2012 Earlier, on July 25, 2012, SMS Holding GmbH had announced its purchase of 59.1 percent of the shares in Paul Wurth SA of Luxembourg. Previously, they had been owned by ArcelorMittal and the Luxembourg investment company Luxempart. 40.8% of the shares remain with the Luxembourg shareholders controlled by the state.
Paul Wurth will continue to operate as an independent company within the SMS group. Boasting more than 1,500 employees and 26 subsidiaries, it ranks among the world's leading producers of blast furnaces, coking plants, and green technology for metallurgical plants. Sales of some EUR 500 million are expected in the current year.
The product ranges of Paul Wurth and especially SMS Siemag complement each other perfectly. The merger creates the basis for the further growth of both companies.
With more than 11,000 employees, the SMS group generates sales of approx. EUR 3 billion. All under the roof of SMS Holding GmbH, it is a group of global players in plant and machinery construction for steel and nonferrous metals processing. It consists of the two Business Areas SMS Siemag and SMS Meer as well as industrial participations.