Kohlberg & Co exits Redaelli Tecna

US private equity firm Kohlberg & Company has sold Italian steel cord manufacturer Redaelli Tecna to Russian company Severstal-metiz Group. The company was founded in 1819 and manufactures three types of products; steel cord used by manufacturers of automobile and truck tires as the primary reinforcement for radial-ply tires; steel cables used in a variety of applications, including suspension bridges, cable cars and cranes; and prestressing steel used in the construction of major concrete structures. The deal is expected to close in the months to come. More information will be included in a future issue of Southern Europe unquote".

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