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S+B raises offer for Ascometal

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Swiss special and stainless steel producer Schmolz + Bickenbach (S+B) has increased the value of its bid to acquire a substantial part of French specialty steelmaker Asco Industries (Ascometal).

S+B has bid a total of €195 million ($238.61 million) for Ascometal, including an €82 million investment in the production facilities over the next four years, it said. This is up from its initial bid of €135 million, which included a €64 million investment in the production facilities.


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