With a symphony of 14 new international locations joining Acerinox’s ensemble, the merged entity is poised to amplify its operational capacities and expand its global reach. Moreover, the acquisition brings with it a treasure trove of 17 U.S. patents and published applications, augmenting the combined entity’s research and development capabilities.
Acerinox to Acquire Haynes International : A New Chapter Unfolds
Haynes President and CEO, Michael L. Shore, heralded the merger as a testament to the future of the industry, highlighting a substantial $200 million investment earmarked for the combined company’s U.S. operations. The majority of this investment will breathe new life into Kokomo, Indiana, where Haynes’ headquarters reside.
“This transaction heralds a new era of value creation for our stakeholders,” affirmed Robert H. Getz, Chairman of the Board of Haynes. “Acerinox’s commitment to innovation, coupled with its vast resources, ensures a promising future for Haynes.”
Closing the Deal
Pending regulatory approval and the fulfillment of customary closing conditions, including shareholder consent from Haynes, the acquisition is slated to conclude in the third quarter of the year. Upon completion, Haynes will transition into a wholly-owned subsidiary of Acerinox, bidding farewell to its Nasdaq listing.
