The annual accounts form a visible proof for Damstahl

30 June 2020

The annual accounts form a visible proof for the intentions of the Damstahl Group’s aggressive and offensive strategy having been met. Throughout the entire year, the stainless steel stockholder has won market shares among other things by following this strategy. 

Among other things, a pending customs case has left a distinctive footprint in the accounts. The customs case has affected the stainless steel industry all across the EU, and due to a significant volume within seamless tubes, Damstahl is among the hardest hit.

In January 2020 Damstahl carried out a successful implementation of the new ERP system in the Finnish subsidiary. Implementation in the remaining parts of the group will follow during 2020. This new system will constitute a further strengthening of the group’s efficiency on all markets. Added to that, the further development of Damstahl’s e-commerce platform will be continued.

The first months of 2020 lived up to the budget, and throughout the year the group will continue the aggressive offensive growth strategy to the benefit of both customers and suppliers.