Steel News

Acquisition Expands SMS group’s Digital Efficiency, Sustainability Offerings

7/1/2020 - SMS group is acquiring two Brazilian industrial tech companies and will merge them to create a competency center for industrial digitalization in Latin America.

In a statement, SMS group said the newly merged company, named Vetta Tecnologia S.A., will emphasize efficiency and sustainability technologies and operate in conjunction with SMS digital, SMS group’s digital solutions subsidiary. 

It is being formed from Viridis Energy Solutions, the creator of an energy and sustainability digital platform for process industries and large energy consumers, and Vetta Technologies, a provider of digital solutions that include data-driven models for process and planning optimization.

Through the transaction, SMS group will hold a majority stake in the new business, which will be managed by Vetta and Virdis founders Thiago Turchetti Maia and Ricardo Giacomin.

SMS group said the new business will add energy and sustainability services to SMS digital’s portfolio.  

“These areas are of key importance for the entire steel and metals industry, with decisive influence on the cost-efficiency of the companies and acting as a lever in reducing their carbon footprint. With Vetta’s established solutions, SMS digital is now in a position to globally supply digitalization solutions that integrate all production areas of the steel and metals industry.”