Walsin Lihwa Corporation To Acquire Cogne Acciai Speciali S.p.A. Expanding Its Global Reach In Stainless Steel2022.05.31
Today, Walsin Lihwa Corporation announced plans to acquire a 70% stake in Cogne Acciai Speciali S.p.A. a leading manufacturer in European stainless steel long products, for a total purchase price of EUR 210 million. The transaction has been approved by the Board of Directors of both Walsin and Cogne and the deal is expected close in fiscal year 2022.
“We are particularly pleased and honored that the long standing tradition in the steel sector of our family which has lead CAS to become a top global leader in our sector has teamed up with Walsin as a success story,” said Mr. Giuseppe Marzorati, Chairman of CAS. “We share the same values, the same pragmatic approach and the same strategies in order to create the largest global producer of specialty stainless steel long products, with a strong ambition to further enlarge its operations in the Americas and EU.”
“It is a pleasure to cooperate with the Marzorati Family. Through their leadership, Cogne has developed into a best-in-class Stainless Steel long manufacturer. Together, we will strive to be a global leader in the sector,” said Mr. Yu-Lon Chiao, Chairman of Walsin. “The investment not only broadens our international reach. Through our complementary product offering, manufacturing capabilities, certifications and sales channels, we expect to be able to extract significant synergies, expand and develop products for new markets and deliver value to our customers through manufacturing services.”
Walsin and the Marzorati Family share a commitment to invest in ESG, develop a strong people centric culture, and a common vision for Cogne’s global strategy.
Walsin is committed to growing its the stainless steel business, and enhancing its competitiveness through strategic cooperation.
About Cogne Acciai Speciali S.p.A.
Cogne Acciai Speciali S.p.A. (“CAS”) is a world leading manufacturer of stainless steel and nickel alloy long products located in Aosta, Italy, providing manufacturing services of melting, casting, rolling, forging and machining. CAS has a niche market for industrial certification products, includes stainless steels and nickel alloys long products, valve steels for automotive and tailor-made products on customers drawing in special steels. CAS has a leading position in the European market with sales offices in more than 15 countries around the world.
About Walsin Lihwa Corporation
Established in 1966 and listed on Taiwan stock exchange since 1972, Walsin Lihwa Corporation is an industrial conglomerate with operations spanning wire & cable, stainless steel, and renewable energy. With over 20 production and sales sites across Greater China, Southeast Asia and US, Walsin products are widely used across industrial, automotive, oil and gas and consumer sectors. Walsin is headquartered in Taipei, Taiwan. For more information please visit https://www.walsin.com