Acciaierie Venete exercised its option rights for the purchase of 50% of Esti srl, thus obtaining control over the company with an 80% shareholding.
Entry into the ownership structure of the company with its Registered Office located on the shores of Lake Idro, began at the end of 2014 with the purchase of a 30% holding including provision, as described above, for a right of option for an additional 50% to be exercised by November 2018.
The consolidation of the union between Acciaierie Venete and Esti allows the establishment of a complete production chain starting with steel production, continuing with lamination heat treatment, mechanical processing and painting, resulting in the finished product ready for delivery to the end customers.
Esti, with annual turnover of about 38 million, produces steel blades for machines ranging from mechanical shovels and diggers, to bulldozers , graders and snow ploughs, sold and marketed throughout the world under its registered brand-name ESTRONG. It also has entered into a commercial agreement with an important Chinese steel producer for the production of special steels (for teeth and tips).