Walsin Lihwa Corporation (“Walsin”) today announced that its 70% owned subsidiary, Cogne Acciai Speciali S.p.A. (“CAS”), has entered into a definitive agreement to acquire Mannesmann Stainless Tubes GmbH (“MST”, or the “Company”). Coupled with the recent bold acquisitions, this transaction strengthens CAS’s unique position in Europe as the one-stop stainless steel and nickel alloy solutions provider, and further solidifies Walsin’s strategy to penetrate premium, fast-growing market segments.
MST is a prominent manufacturer of stainless steel and nickel alloys seamless tubes, serving world’s leading companies in the energy, aerospace, chemical/ petrochemical sectors, as well as other markets requiring tubing solutions that withstand extreme pressure and temperature conditions. The Company inherits the legacy of Mannesmann seamless tube-making process from 1885, now operating globally with production facilities in Germany, France, Italy, and USA.
This strategic union brings together CAS’s proprietary materials with MST’s robust project pipeline. MST will immediately benefit from CAS’s material supplies, positioned better to combat the market competition. Simultaneously, CAS will be able to saturate its melting capacity while expanding its product portfolio along the value chain.
“MST boasts an impressive clientele and deep expertise in our targeted markets. Its extensive capabilities and network serve as pivotal levers to drive next-generation growth and product innovation,” said Mr. Yu-Lon Chiao, Chairman of Walsin. “MST shares our commitment to deliver top-tier solutions at competitive prices that empower our customers. Having MST join Walsin/CAS family complements our strategy to form a vertically integrated steel-making company, enhance penetration into the premium markets, and gain access to premier customer profile. We are excited about the prospects of this new partnership and are confident it will fuel steady growth. Through targeted investment and continuous advancements, we deliver on our strategic vision to uphold our market-leading position.”
Under the terms of the deal, CAS will acquire MST for €135 million on a cash free, debt free basis. The transaction is subject to receipt of applicable regulatory approvals and satisfaction of other customary closing conditions and adjustments.
About MST
Mannesmann Stainless Tubes GmbH (formerly Mannesmann DMV Stainless) is the pioneer in manufacturing seamless stainless steel and nickel-based alloy tubes and pipes. The company’s history dates back to the invention of the seamless stainless steel tube by the Mannesmann brothers in 1885. It has been the industry innovator for over 100 years and now has one of the largest product portfolios in this field. MST links its production and sales processes internationally with highest quality and service standards, serving the most mission-critical environment and applications.
About CAS
CAS is a world leading manufacturer of stainless steel and nickel alloy long products located in Aosta of Italy, providing manufacturing services of melting, remelting, 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
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
