German steel company Saarstahl has announced the acquisition of Dutch long product manufacturer FNsteel BV. 

Located in Alblasserdam, the company possesses one of Europe's most modern production facilities and specializes in manufacturing high-quality cold heading steel for the automotive and construction industries.

CEO Stefan Rauber stated the acquisition aligns with their strategy to strengthen their market position and competitiveness.

The deal is expected to be finalized by year-end, pending regulatory approval.