Acerinox
Stainless steel manufacturing group based in Spain
From Wikipedia, the free encyclopedia
Acerinox, S.A. (Spanish pronunciation: [aθeɾiˈnoks]), headquartered in Madrid, is a manufacturer of steel and related products. In 2022, it was the 4th largest producer of stainless steel worldwide.[3] It has operations in Europe, Asia, the U.S., and South Africa. It has fifteen factories including five in its stainless steel division.[2] The company has been focused on increasing production in the U.S.[4]
| |
_01.jpg) Headquarters in Madrid, Spain | |
| Type | Sociedad Anónima |
|---|---|
| BMAD: ACX | |
| ISIN | ES0132105018 |
| Industry | Steel |
| Founded | 1970 |
| Headquarters | Madrid, Spain |
Key people | Carlos Ortega Arias-Paz (Chairman) Bernardo Velázquez (CEO) |
| Products | Stainless steel |
| Revenue |  €5.413 billion (2024) |
| €348 million (2024) | |
| €224 million (2024) | |
| Total assets |  €6.469 billion (2024) |
| Total equity | €2.575 billion (2024) |
| Owner | Corporación Financiera Alba (19.2%) Daniel Bravo Andreu (5.2%) South African Industrial Development Corporation (3.5%) |
Number of employees | 7,390 (2024) |
| Subsidiaries | VDM Metals Haynes International |
| Website | www |
| Footnotes [1][2] | |
History
The company was founded in 1970. It was financed in part by Nisshin Steel. In 2009, Nisshin increased its ownership in the company from 11.3% to 15.0%.[5]
In March 2020, it acquired VDM Metals for €532 million.[6] In November 2024, it acquired Haynes International for $798 million.[7] It also sold its subsidiary Bahru Stainless for $95 million.[8]
Accidents
In 1998, the Acerinox factory in Los Barrios, Cadiz melted a capsule of cesium-137 that was in a consignment of scrap metal.[9][10] The radioactive substance was released into the atmosphere and spread over Europe — nuclear authorities in France, Germany, Italy, and Switzerland detected up to 2,400 microbecquerels of ionising radiation in the air, 1,000 times higher than the norm.[11] Two other factories in Huelva and Badajoz also became contaminated by waste transported to them from Acerinox.[10] During the clean-up, 7,000 metric tons of radioactive waste were dumped in Mendaña Marshes in Huelva.[12] The estimated costs of the accident were 20 million US dollars for lost production in the factory, $3 million for clean-up, and $3 million for waste storage.[9]
