In January 2023, the Marcegaglia Group made a significant move by acquiring an electric furnace meltshop for stainless steel located in Sheffield, UK. This acquisition also includes a wire rod rolling plant and a bar production plant situated at the same site. Additionally, the company now owns a bar production plant in Richburg, USA, and a wire rod hot rolling plant and a drawn wire production plant in Fagersta, Sweden.
This marks a historic milestone for Marcegaglia as it is the first time the company has invested in primary steel production. The strategic significance of this operation is immense, carrying strong symbolic value. Notably, Sheffield is the birthplace and the historical hub for the development of stainless steel since 1913.
With this venture, Marcegaglia has taken a step towards partial integration upstream in the value chain. The move is aimed at shortening and stabilizing supply chains while fostering the development of a more sustainable and competitive product offering.
The acquisition represents the largest transaction ever made by the group, fulfilling the long-cherished dream of its founder, Steno Marcegaglia, who had always aspired to invest in primary steel production.