Swiss Steel Group
A Swiss-based international producer of special steel long products, including engineering, stainless and tool steels.
Last updated October 17, 2026
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Overview
Swiss Steel Group is the current name of the steel business historically associated with Schmolz + Bickenbach. Based in Lucerne, Switzerland, the group is a listed producer and distributor focused on specialty steels rather than the mass production of ordinary flat steel. Its portfolio has included stainless long products, tool steels, engineering steels and other high-value grades used in demanding industrial applications. The business traces its origins to 1919, when Arthur Schmolz and Oswald Bickenbach established a steel trading company in Düsseldorf. The company adopted the Schmolz + Bickenbach name in 1937 and subsequently expanded from trading into processing and steel production. A major change came in 2003, when the family-controlled Schmolz + Bickenbach Group acquired a majority interest in the listed Swiss Steel company. Swiss Steel had been formed in Emmenbrücke in 1996 through the combination of the former Von Moos Stahl and Von Roll Stahl businesses. During the 2000s, the group assembled a broader European and North American specialty-steel platform. It acquired German producers Edelstahlwerke Südwestfalen and Edelstahl Witten-Krefeld, which were later combined as Deutsche Edelstahlwerke; acquired the French Ugitech group; and purchased the Chicago-based A. Finkl & Sons Group. These transactions expanded its capabilities in stainless long products, tool steel and other long-steel categories. The group also divested a stake in Stahl Gerlafingen as it concentrated more heavily on higher-quality steels. The corporate structure was reorganized in 2006, when much of the operating activity of Schmolz + Bickenbach KG was integrated into Swiss Steel AG and the listed company was renamed Schmolz + Bickenbach AG. In 2007, the Swiss subsidiary Von Moos Stahl was renamed Swiss Steel. The group later relocated its headquarters from Düsseldorf to Lucerne in 2015 and acquired French steelmaker Ascometal in 2018. The company has also experienced periods of significant financial and governance pressure. Acquisitions, high debt and difficult steel-market conditions contributed to a strained financial position in the early 2010s. The group reported a substantial loss for 2012 and considered capital increases while dealing with management departures, shareholder disputes and the departure of board chairman Michael Storm after allegations concerning misappropriated funds. In 2013, Schmolz + Bickenbach KG entered an arrangement with Renova Group affiliate Venetos, resulting in a substantial new shareholder position and a subsequent capital increase. Further restructuring and financing efforts followed. The company announced a capital increase in 2019, and shareholders approved a capital increase of approximately 200 million euros in December 2020. The registration of the new shares was reportedly blocked by opposing shareholder Liwet Holding at the relevant Lucerne offices. From September 2020, the corporate identity was changed to Swiss Steel Holding AG, with Swiss Steel Group used as the group brand. Swiss Steel Group's market proposition is based on metallurgical expertise, specialized grades, processing know-how and supply-chain support for industrial customers. Its products serve sectors that require controlled mechanical properties, wear resistance, corrosion resistance or reliable performance under high loads. The group has historically presented itself as a leading global producer of tool steel and stainless long products, while its geographic footprint has included European production and distribution operations together with North American activities.
History
Swiss Steel Group's history combines a German steel-trading origin with the consolidation of specialty-steel producers in Switzerland, Germany, France and the United States. Arthur Schmolz and Oswald Bickenbach founded the original Schmolz + Bickenbach business in Düsseldorf in 1919. It began as a steel-trading company and operated under the double name from 1937. The group's later industrial identity developed through the Swiss Steel business. Swiss Steel was established in Emmenbrücke in 1996 as a holding company created through the merger of Von Moos Stahl and Von Roll Stahl, two Swiss steel producers. The business included Steeltec, logistics activities operated by Panlog and Stahl Gerlafingen, which had emerged from Von Roll Holding. In 2003, Schmolz + Bickenbach Group, then still family controlled, acquired a majority stake in the listed Swiss Steel company under the leadership of Michael Storm. Expansion accelerated between 2004 and 2007. The group acquired Edelstahlwerke Südwestfalen in 2004 and Edelstahl Witten-Krefeld in 2005. Those German businesses were combined in 2007 under the Deutsche Edelstahlwerke name. In 2006, the group acquired Ugitech in France and sold 65 percent of Stahl Gerlafingen, reflecting a decision to concentrate on higher-quality steels in the long-product segment. In the same period, most of the operating activities of Schmolz + Bickenbach KG were integrated into Swiss Steel AG, which was renamed Schmolz + Bickenbach AG. The Von Moos Stahl subsidiary adopted the Swiss Steel name in 2007. The purchase of A. Finkl & Sons in Chicago in February 2007 expanded the group's North American presence and strengthened its tool-steel activities. After the acquisition, the group described itself as the world's largest tool-steel producer and a leading global producer of stainless long products. A 2010 capital increase reduced the former Schmolz + Bickenbach KG holding in the listed company from approximately 70 percent to roughly 40 percent. The company entered a difficult period in the early 2010s. Debt associated with acquisitions and weak steel-market conditions produced liabilities of nearly 903 million euros by December 2012. The group reported a loss of approximately 157.9 million euros for the 2012 financial year, while chief executive Benedikt Niemeyer and chief financial officer Axel Euchner left in June 2012 amid internal disagreements. Chairman Michael Storm resigned in December 2011 following allegations involving approximately 1.5 million euros. In 2013, the company pursued legal recovery of approximately 9 million euros plus interest. Ownership and financing became central issues in 2013. The family shareholders associated with Michael Storm initially opposed a proposed capital increase after reducing their own stake. In August, Schmolz + Bickenbach KG entered an arrangement with Renova Group and sold 25.3 percent of the company through the Venetos subsidiary. The transaction triggered a mandatory offer for the remaining shareholders. An extraordinary shareholders' meeting in September 2013 approved a 430 million euro capital increase for Venetos and Schmolz + Bickenbach KG, together with changes to the board. The group subsequently streamlined parts of its distribution network. In 2015 it separated from certain distribution companies in Germany, Austria and the Benelux countries and moved its headquarters from Düsseldorf to Lucerne. The acquisition of Ascometal in February 2018 added another French steel producer to the portfolio. A further capital increase was announced in October 2019. In September 2020, Schmolz + Bickenbach AG adopted the Swiss Steel Holding AG name, while Swiss Steel Group became the principal group identity. In December 2020, shareholders approved an approximately 200 million euro capital increase and announced a new chairman and chief executive. Liwet Holding, an opposing shareholder, reportedly blocked registration of the new shares with the relevant Lucerne authorities. The group therefore entered the 2020s with a reorganized identity but continuing ownership, financing and governance challenges.
- 2020
Corporate identity changes to Swiss Steel Group
[1]Schmolz + Bickenbach AG is renamed Swiss Steel Holding AG, with Swiss Steel Group used as the group brand.
- 2018
Ascometal is acquired
[1]The group adds French steelmaker Ascometal to its specialty-steel portfolio.
- 2015
Headquarters move to Lucerne
[1]The group relocates its headquarters from Düsseldorf to Lucerne and separates part of its regional distribution activities.
- 2013
Shareholder-backed recapitalization is approved
[1]An extraordinary shareholders' meeting approves a €430 million capital increase and board changes after Venetos acquires a 25.3 percent stake.
- 2007
The group expands in tool steel and adopts the Swiss Steel name
[1]A. Finkl & Sons is acquired in the United States, while Von Moos Stahl is renamed Swiss Steel.
- 2007
A. Finkl & Sons is acquired
[1]The acquisition of the Chicago-based producer expands the group's tool-steel capabilities and North American presence.
- 2006
Ugitech joins the group
[1]The French Ugitech Group is acquired, strengthening the group's stainless long-product activities.
- 2006
Ugitech joins the group and Stahl Gerlafingen stake is sold
[1]The French Ugitech Group is acquired, strengthening stainless long-product activities, while 65 percent of Stahl Gerlafingen is sold to concentrate on higher-quality steels.
- 2005
Edelstahl Witten-Krefeld is acquired
[1]A second German producer is acquired; the two businesses are later combined as Deutsche Edelstahlwerke.
- 2004
Edelstahlwerke Südwestfalen is acquired
[1]The group expands its German specialty-steel operations through the acquisition of Edelstahlwerke Südwestfalen.
Products and positioning
High-value specialty-steel production and industrial materials solutions; international specialist supplier of high-performance steel long products for demanding industrial applications.
Specialty steel
Engineering steel
Engineering steels are designed for components that require defined mechanical properties, strength and durability. Within the group's historical long-product portfolio, these grades serve industrial applications where predictable performance, machinability and resistance to mechanical loads are more important than commodity volume. They form a core part of the group's positioning around customized and higher-value steel solutions. Engineering steels are designed for components requiring controlled strength, toughness, fatigue performance and machinability. Swiss Steel supplies these materials for applications in automotive systems, mechanical engineering, power equipment and other industrial assemblies. Product specifications can be adapted through alloy selection, heat treatment and finishing processes. Engineering steels are designed for components that require defined mechanical properties, strength, toughness, fatigue performance, machinability and durability. Within the group's historical long-product portfolio, these grades serve industrial applications where predictable performance and resistance to mechanical loads are more important than commodity volume. They are used in automotive systems, mechanical engineering, power equipment and other industrial assemblies, and specifications can be adapted through alloy selection, heat treatment and finishing processes.
Stainless steel
Stainless steel long products
Stainless long products include long steel forms manufactured in corrosion-resistant grades. They are used in industrial and engineered components where resistance to corrosion, heat or demanding operating environments is required. The group's acquisitions of Ugitech and other specialty-steel businesses supported its historical position as a major producer of stainless long products. The group's stainless portfolio consists primarily of long products used where corrosion resistance, cleanliness or high-temperature performance is required. Typical customer sectors include automotive components, industrial equipment, energy systems and precision engineering. The category was strengthened through the integration of Ugitech. Stainless long products include long steel forms manufactured in corrosion-resistant grades, used where resistance to corrosion, cleanliness, heat or demanding operating environments is required. Typical customer sectors include automotive components, industrial equipment, energy systems and precision engineering. The group's acquisition of Ugitech and other specialty-steel businesses supported its historical position as a major producer of stainless long products.
Tool steel
Tool steel
Tool steels are high-performance grades alloyed for hardness, wear resistance, toughness and dimensional stability, used to make dies, molds, cutting tools and other equipment exposed to wear, pressure or elevated temperatures. The acquisition of A. Finkl & Sons in 2007 materially strengthened the group's tool-steel capabilities and North American reach. The category has historically been one of the group's principal specialty-steel businesses. Tool steels are alloyed for hardness, wear resistance, toughness and dimensional stability in tooling and forming applications. The group expanded this business substantially through the acquisition of A. Finkl & Sons and supplies steel for tooling, molds, dies and other demanding industrial uses.
Industrial materials
Specialty steel solutions
The group's broader offering covers high-value and high-alloy steel grades supplied in long-product formats and supported by processing, technical expertise and distribution. These solutions target customers whose applications require specific metallurgical characteristics rather than standardized commodity steel. The portfolio has historically served industrial, engineering and manufacturing customers across several regions.
Controversies
2013
Shareholder and financing conflict
The company faced a dispute involving family shareholders, Renova-related investor Venetos and a proposed capital increase. The transaction triggered a mandatory offer for remaining shareholders that reportedly attracted limited acceptance.
2011
Storm resignation and alleged misappropriation
Chairman Michael Storm resigned in December 2011 after allegations that he had misappropriated approximately 1.5 million euros. The company later pursued repayment claims reported at approximately 9 million euros plus interest.
2011
Alleged misappropriation involving former chairman
Michael Storm resigned as president of the board in December 2011 after the discovery of alleged misappropriation of company funds. The company subsequently pursued a repayment claim against him.
Brand decisions
2020
Approve a major capital increaseOtherBackground
The group was addressing financial pressure and ownership disagreements after announcing another capital increase in 2019.
Action taken
An extraordinary shareholders' meeting approved a capital increase of approximately 200 million euros.
Aftermath
Registration of the new shares was reportedly blocked by Liwet Holding, an opposing shareholder.
Approved capital increase. Approximately €200 million approved (December 2020)
2020
Adopt the Swiss Steel Group identityOtherBackground
The historical Schmolz + Bickenbach name no longer represented the group's desired corporate identity.
Action taken
The listed company was renamed Swiss Steel Holding AG and the group began operating under the Swiss Steel Group name.
Aftermath
Swiss Steel became the principal group identity for the international special-steel business.
2018
Acquire AscometalM&ABackground
The group continued building a European platform in specialty steels.
Action taken
It acquired French steelmaker Ascometal.
Aftermath
Ascometal became part of the group's French specialty-steel activities.
2015
Relocate the group headquartersStrategyBackground
The group was streamlining its organization and distribution structure.
Action taken
It moved the group headquarters from Düsseldorf to Lucerne and separated from parts of its German, Austrian and Benelux distribution operations.
Aftermath
The relocation reinforced the company's Swiss corporate identity.
2015
Restructure distribution and headquartersStrategyBackground
The group reviewed its regional commercial structure while maintaining its specialist manufacturing platform.
Action taken
It separated part of its distribution companies in Germany, Austria and the Benelux region and moved the group headquarters to Lucerne.
Aftermath
The corporate center was established in Switzerland and the group continued its focus on specialist steel production.
2007
Acquire A. Finkl & SonsM&ABackground
The group sought to strengthen its specialty-steel and tool-steel position outside Europe.
Action taken
It purchased the Chicago-based A. Finkl & Sons Group.
Aftermath
The acquisition expanded the group's North American activities and contributed to its position in tool steel.
2006
Concentrate on high-quality long steelsStrategyBackground
The group was reshaping a portfolio that included steel production, processing and trading businesses.
Action taken
It sold 65 percent of Stahl Gerlafingen and emphasized higher-quality steels in the long-product segment.
Aftermath
The move supported a more focused specialty-steel strategy.
2006
Concentrate on premium long-product steelStrategyBackground
The group sought to focus more strongly on high-quality steels and specialist long products.
Action taken
It sold 65 percent of Stahl Gerlafingen and emphasized higher-value special-steel activities.
Aftermath
The portfolio became more closely associated with tool steel, stainless long products and other specialized steels.
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