The SMS Group reported it has taken over 59.1% of the shares in Paul Wurth S.A., Luxembourg, that were previously owned by ArcelorMittal (48.1%) and the Luxembourg fund Luxempart (11.0%). 40.8% of the shares remain with the Luxembourg shareholders controlled by the state.

The purchase is still subject to review and approval by the anti-trust authorities.

Paul Wurth will continue to operate as self standing corporation within the SMS Group. With more than 1,600 employees and 27 subsidiaries, it ranks among the world's leading suppliers of blast furnaces, coking plants, and green technology for metallurgical plants. Sales in 2011 totaled €491 million.

With more than 11,000 employees, the SMS Group generated sales of around €3 billion in 2011. Led by the SMS Holding GmbH it is a group of global players in plant and machinery construction for steel and nonferrous metals processing. It consists of the two Business Areas SMS Siemag and SMS Meer as well as other industrial interests.

The product ranges of Paul Wurth and SMS Group are perfectly complementary, SMS says. While the new member is a leader in blast furnace construction and holds a strong market position in upstream equipment for processing raw materials, the Business Areas SMS Meer and SMS Siemag supply the downstream installations in the process chain. Included here are steelmaking plants, continuous casters, rolling mills, and strip processing lines. There will be further synergy effects in the fields of eco-technology and service.

Ther merger between both entities creates potential for further growth, SMS says.