Mutares acquires Donges Steeltec
Mutares (ISIN: DE000A0SMSH2) has acquired Donges Steeltec, one of Germany’s leading steel construction companies, from Mitsubishi Hitachi Power Systems Europe. Donges generates a turnover of EUR 36m with 200 employees. The business provides significant synergies with Balcke-Dürr, Mutares’ manufacturer of power plant components.
Mutares has acquired Donges Steeltec from Mitsubishi Hitachi Power Systems Europe. Donges is one of Germany’s leading steel construction companies located in Darmstadt. It generates a turnover of EUR 36m with 200 highly qualified employees. Its product range is focussed on bridges, power plants, sports arenas, hangars as well as industrial and transport constructions. Particularly the dynamic business with bridges should boost Donges’ development in the coming years.
The divestment of Donges was driven by a refocusing of Mitsubishi Hitachi Power Systems Europe on its core business. Donges fits perfectly into Mutares’ Engineering & Technology segment and provides significant synergy potential with Balcke-Dürr in procurement, sales, and IT. The operational experience of Mutares and Balcke-Dürr was highly appreciated by the seller which is another confirmationof Mutares’ unique positioning.