voestalpine Automotive Components Nagold finds an ideal strategic partner in Tempel Steel

voestalpine Automotive Components Nagold, a company of the Metal Forming Division of the voestalpine Group, was acquired in 2005 and currently employs around 130 people. Based in Germany, the company develops and produces stamped and formed parts for the automotive industry, such as radiator components, side member reinforcements and other pressed parts and assemblies. The site also produces inline bonded stator and rotor stacks for electric motors.

In order to enable the sustainable successful further development of the Nagold site, the voestalpine Group has decided to sell voestalpine Automotive Components Nagold after 18 years as part of the Group for purely strategic reasons. This also takes into account customer expectations regarding coverage of the complete technology portfolio in electrical steel processing, which is guaranteed by the buyer.

Accordingly, negotiations have been held with potential buyers for the Automotive Components plant in Nagold. In Tempel Steel (the electrical steel operations of Worthington Steel), an ideal buyer was found for the Nagold plant in order to secure the site in the long term. For Tempel Steel, the acquisition represents a strategic expansion of the portfolio.

All employees and existing technologies at the site were taken over by the buyer.

The Livingstone Duesseldorf office advised voestalpine Group on this transaction. The terms of the transaction have not been disclosed.

Jochen Hense, Partner at Livingstone commented: “We are optimistic that the ideal partner has been found. Teaming up with Tempel Steel offers a great long-term perspective for the employees, the management and the customers of voestalpine Automotive Components Nagold.”