Walsin Lihwa Corporation announced its net operating revenue for May 2022. The company’s consolidated net operating revenue for May 2022 was NT$17.63 billion. January through May revenue for 2022 totaled NT$77.40 billion.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.

Walsin Lihwa’s board meeting today passed a resolution to acquire 40% of the equity of the Singapore-based Innovation West Mantewe (IMM) at US$80 million. IWM owns 45% of the equity of PT. Transcoal Minergy (TCM) in Indonesia.

TCM’s mine area is in Kalimantan Selatan, Indonesia with an annual coal capacity of approximately 6 megatons, which will be available in 2024 by underground tunnel mining. Such environmentally friendly mining only has a limited ecological impact.

As Walsin Lihwa has been investing in nickel pig iron and nickel matte production as well as power plant development over the past several years, the investment in IWM is expected to help secure key raw material sources, mitigate price volatility risks, and stabilize profitability.

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

Walsin Lihwa Corporation announced today that it agreed to spin off and sell the development business of its U.S. subsidiary, Borrego Solar Systems, Inc., to ECP, a leading energy transition-focused investor with an almost two decades-long reputation in the electricity, renewable and sustainable solutions sector. The total transaction amount is estimated to reach USD 567 million and the gain on disposal for Walsin will be USD 288 million.

Walsin Lihwa has expanded its business scope into renewable industry since 2008 and invested in Borrego Solar Systems, Inc. in order to offer a broad range of renewable energy services. Borrego accelerates the development and delivery of large commercial, community solar, utility-scale solar and energy storage projects in the United States. It has a track record of superior performance across the hundreds of large solar and energy storage projects it has designed, built and maintains throughout the United States. The motivation behind the sale of Borrego’s development business to ECP is to break through the bottleneck of national expansion of the business with the aid of ECP’s impressive team and its expertise in renewable energy investing. Walsin Lihwa will invest continuously in its engineering, procurement and construction (EPC) and operations and maintenance (O&M) business units in order to capitalize on the rapidly expanding opportunity set in renewable energy creation and storage.

Walsin Lihwa Corporation announces its consolidated financial statements of 2022 first quarter financial results on 6th May. The consolidated net operating revenue reaches NT$42.56 billion. The consolidated operating gross profit reaches NT$5.49 billion. The net income after tax reaches NT$3.83 billion, earnings per share at NT$ 1.12.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.

An R&D innovation center established by Walsin Lihwa and the National Taiwan University (NTU) was unveiled at the College of Engineering, NTU. NTU President C.M. Kuan and the faculty from individual departments of the college attended the unveiling ceremony. The R&D innovation center is intended for academia industry cooperation for metal material research, investment in green circular technologies, development of wastes applications green metal supply chain, green energies, energy saving and carbon reduction technologies, and cultivation of talents in relevant disciplines. The office of the R&D innovation center opened at the same time will be available for academia industry seminars, project presentations, product application demos, and cultivation of talents.

The results of a competition of academic poster design on the first ever technology exchange between Walsin Lihwa and the NTU starting 2022 were also announced at the same time, and scholarships were awarded to eighteen outstanding students. After the unveiling ceremony, there was an keynote session between Walsin Lihwa and the faculty of the College of Engineering, NTU as an effort to have academic resources more closely combined with industry applications to contribute to environmental sustainability and green energy industry development.

Walsin Lihaw’s board meeting today passed a resolution to acquire 50.1% equity of PT. Sunny Metal Industry respectively from Ever Rising Limited and Berg Holding Limited under Tsingshan Holding Group. The acquisition amounting to US$200 million are intended to invest in nickel matte production and a power generation plant in Indonesia Weda Bay Industrial Park.

As Walsin Lihwa will increase investment in its nickel matte and nickel pig iron production capacities, the newly acquired PT. Sunny Metal Industry is setting up four rotary kiln electric furnace lines for nickel matte production as well as an inhouse power generation plant of 380,000 KWH. In mid-2021 PT. Sunny Metal Industry commenced setting up its furnace production lines, which are scheduled for completion by the end of 2022, and construction of the inhouse power generation plant is scheduled for completion in the second quarter of 2023. Before that, Walsin Lihwa will base on the ratio of its shareholding in PT. Sunny Metal Industry to further provide approximately US$180 million to finance the furnace production line and power plant construction. In 2023 PT. Sunny Metal Industry will be capable of independent production and sales, and its annual capacity of 55,000 tones pure nickel will amount to a significant step for Walsin Lihwa’s expansion into new energy industries.

To secure the stable supply of raw materials for stainless steel production, Walsin Lihwa established Walsin Nickel Industrial Indonesia at the end of 2019 to set up nickel pig iron and power plants in cooperation with Tsingshan Holding Group in Indonesia Morowali Industrial Park. Walsin Nickel Industrial Indonesia’s plant construction for production of nickel pig iron as the upstream raw material for stainless steel was completed as scheduled despite pandemic impacts. Four production lines became operational one by one in the second half of 2021 to commence mass production and help boost the earnings of Walsin Lihwa. The acquisition of 50.1% equity of PT. Sunny Metal Industry this time to invest in nickel matte production and power generation is expected to increase Walsin Lihwa’s total production of nickel by 70% to approximately 68,000 tons for the production of stainless steel as well as manufacturers of electric vehicles and energy storage facilities.

Walsin Lihwa Corporation announced its net operating revenue for March 2022. The company’s consolidated net operating revenue for March 2022 was NT$16.04 billion. January through March revenue for 2022 totaled NT$42.57 billion.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.

Walsin Lihwa Corporation announced its net operating revenue for February 2022. The company’s consolidated net operating revenue for February 2022 was NT$13.03 billion. January through February revenue for 2022 totaled NT$26.53 billion.

Walsin Lihwa Corporation, established in 1966, is not only the leading manufacturer of wire & cable, stainless steel, and resources business in the Greater China region but also a leading real estate developer across the Taiwan Strait.