ThyssenKrupp has agreed to sell its Italian stainless steel plant Acciai Speciali Terni (AST) to Italian group Arvedi. The deal included the related sales organizations in Germany, Italy, and Turkey.

Both sides have decided not to disclose the transaction price. This transaction was expected to be completed in the first half of 2022.

AST currently has approximately 2,700 employees. The sales value during the fiscal year 2019-2020 was around EUR 1.7 billion.