Walsin Lihwa Corporation (“Walsin”) announced today that Cogne Acciai Speciali S.p.A. (“CAS”), a 70% owned subsidiary, completes the previously disclosed acquisition of 65% controlling interest in Com.Steel Inox S.p.A. (“Inox”), a recycler of stainless steel and nickel alloys.
CAS finalized the acquisition for cash consideration of €24 million; an additional €4 million in deferred cash consideration is payable contingent on the achievement of certain milestones. Completion of the transaction followed receipt of regulatory approval and satisfaction of various other closing conditions.
This transaction marks a pivotal step forward in Walsin’s sustainability roadmap, reaffirming its commitment to actively supporting the circular economy and green transition in the stainless steel industry. Embedding circularity into the core of the business strategy, Walsin continues to deliver sustainable development and create long-term value for the customers and all stakeholders.
About Walsin
Established in 1966 and listed on Taiwan stock exchange since 1972, Walsin is an industrial conglomerate with operations spanning wire & cable, stainless steel, and renewable energy. With over 40 production and sales sites across Greater China, Europe, Southeast Asia, and the U.S., Walsin products are widely used across aerospace, oil and gas, new energy, automotive, industrial and consumer sectors. Walsin is headquartered in Taipei, Taiwan. For more information, please visit https://www.walsin.com
