© miele Business | June 12, 2017
Miele acquires majority interest in Steelco
The family-owned Miele is to acquire a controlling stake in the Steelco Group, whilst Steelco founders remain at the helm of the group.
With the acquisition, the medical technology division within the Miele Group is set to grow by around one third to approximately EUR 250 million per annum. This transaction is still subject to approval of the antitrust authorities. “Together with Steelco, Miele can combine its claim to quality and innovation leadership with a significantly broader product portfolio, and hence expand its market position”, says Andreas Barduna, Commercial Director of Miele Professional business. Together with domestic appliances, the Miele Group achieved a turnover of EUR 3.71 billion in the last fiscal year and has 19'400 employees worldwide. The company was founded in 1899 and is headquartered in Gütersloh, Germany. Steelco, producer of CDS equipment mainly for the hospital and pharma sectors, was founded in 1998 and is based in Riese Pio X in the northern Italian province of Treviso. The company employs a workforce of around 400, achieved a turnover of EUR 71 million in 2016 and has been recording double-digit growth for many years. The founder and CEO Ottorino Casonato is to remain responsible for the management of Steelco, assisted by the co-founders Fabio Zardini and Ivone Capovilla as well as by his daughter Nicoletta Casonato. Miele, on the other hand, has a majority representation on the supervisory board of the Steelco Group. “For us, Miele is a strong and dependable partner for a joint and successful future and represents an excellent match”, says Ottorino Casonato. It is planned to consolidate the CSSD project business under the auspices of the Steelco company and brand. This will involve producing sterilisers and trolley washers for the Miele Group in their entirety at Steelco as the new member of the Miele Group. For Miele’s plant in Bürmoos near Salzburg, this means that production of these product groups will gradually cease over the course of the coming year. Miele Bürmoos will continue as a componentry plant producing fascia panels, baskets and inserts and washer-disinfector chambers.
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