Gestamp Automocion : Acquisition of a minority share in a recycling company
>Clear strategic rationale, but financial impact yet to be detailed - During trading yesterday, Gestamp announced the acquisition of a 33% stake in the recycling specialist Gescrap. The move strengthens Gestamp’s positioning on the circular economy and particularly on “green” steel, one of the main challenges for the decarbonisation of industry (it is estimated the steel industry contributes c.8% of global CO2 emissions, according to Our World in Data). We are still l...Gestamp Automocion SA. Gestamp Automocion SA is a Spain-based company primarily engaged in the auto parts manufacture. It focuses on the design, development and production of metal components and structure systems for the automotive industry. The Company's products portfolio includes skin panels and closure parts, structural and body components, chassis, bumpers and dashboard crossbeams, among others. The Company's customers include Volkswagen, Renault-Nissan, PSA, Daimler, General Motors and BMW, among others. The Company is a parent of the Gestamp Automocion Group, a group, which comprises a number of subsidiaries with operations established in North and South America, Europe and Asia. The Company is controlled by Acek Desarrollo y Gestion Industrial SL.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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