This second edition of Forging ahead covers M&A activity in the global metals industry during 2005. The metals industry experienced overall record deal volumes in 2005, although total value of deals was down.
In this issue, we reviewed deal activity in the steel and aluminium sectors and expanded our scope to include other metals. As in previous years, the steel sector led the way, with 165 deals collectively worth almost US$27.4 billion and steadily increasing acquisition multiples.
The report also drills down to discuss deals by region (North America, Western Europe, Central & Eastern Europe, Asia-Pacific and Central & South America). In 2005 deal activity increased markedly in the emerging markets. Companies based in Central and Eastern Europe, Asia Pacific and Latin America jointly accounted for $US17.7 billion — or 51 percent of the total value of industry transactions worldwide, up from 32 percent the previous year.
The China steel industry is having a pervasive influence on global market dynamics; we examine the repercussions more closely in this year's outlook section.
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