Steel production: Schmolz + Bickenbach becomes Swiss Steel Group

A great provider in the steel making gets a new name. The old Schmolz + Bickenbach Group becomes new Swiss Steel Group. After the eventful months of drawing up the refinancing and restructuring plans and the challenges of the corona pandemic, the course has been set for a successful future, according to the corporate management.

The participants in the Extraordinary General Meeting approved the proposal submitted by the Board of Directors to change the company's name on September 21, 2020 with a large majority. Around 98% of the shareholders voted for the proposed reduction in the nominal value and for the name change from the legal unit to Swiss Steel Holding Ltd.

With the name change on September 21, 2020, the Swiss Steel Group closes a piece of tradition and is hopeful on the path into the future of steel development. This is also underlined by the group's new claim: “Together. A future that counts ”.

The course is set for special steel production

In the past weeks and months, the specialist for steel making the course set for the rebranding. With the agreements made of a financial nature, those responsible have the Group liquidity secured. The overall financing concept is in the final stages and the continuation of the company has been secured.

The name change to the Swiss Steel Group affects all units that previously had Schmolz + Bickenbach in their name. The legal unit in Lucerne bears the new name as Swiss Steel Holding AG. The Ugitech SA business, Ascometal, Finkl Steel, Deutsche Edelstahlwerke, Steeltec and Swiss Steel units keep their names and are known as Swiss Steel Group company bezeichnet.

More international and without a founder family

The rebranding takes place strategic and practical reasons. The old name was always difficult to pronounce internationally. The founder's family left the shareholders this year. In addition, the rebranding should also represent the transformation of the group and be a clear sign of a new departure.

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Schmolz + Bickenbach stood for steel wholesaling, especially in Germany. However, the group, with its business units, is seen globally as a developer of innovative steel solutions for a wide variety of industries.

Statement by CEO Clemens Iller

"The Rebranding about the Swiss Steel Group is an important signal for us for the dawn of a new, exciting and promising era in our company's history. This requires an independent, easy-to-remember, internationally easy-to-pronounce, credible and developable brand that our customers can trust, "comments Clemens Iller, CEO of the Swiss Steel Group. 

"The name change is also a caesura after the grueling events of the past months and years, in which the difficult market situation, necessary refinancing and, to top it all, the corona pandemic presented us with immense challenges this year. Now we can look positively into the future under a new name with a fresh logo. "

Who is the Swiss Steel Group?

The Swiss Steel Group (formerly Schmolz + Bickenbach Group) is one of the leading providers of individual solutions for special steel long products worldwide. When it comes to tool steel and stainless long steel, the group is one of the leading manufacturers in steel production. It is one of the two largest companies in Europe for alloyed and high-alloy structural steel. Over 10.000 employees and our own production and distribution companies in over 30 countries on five continents offer a complete portfolio of production, sales and services.