Mutares said the acquisition will allow it to grow within the North American steel processing market, expand its engineering and technology segment, and bring cross-selling opportunities with automotive customers. 

“This acquisition is a strategic milestone for Mutares, strengthening our Engineering & Technology segment and expanding our presence in North America. Greer Steel’s technical capabilities and strong customer relationships make it an ideal platform for further growth,” said Johannes Laumann, chief information officer of Mutares. 

Greer Steel’s facility in Ohio has capabilities including cold rolling, hydrogen annealing, pickling, slitting, shearing, wire flattening, traverse winding, edge profiling and finishing. Its customer base is in the automotive, service center, hardware, hand tools and stamping industries, the company said.