Walsin Lihwa’s investment in Italian steelmaker CAS receives the Italian government acquisition approval

Taipei, September 29 — Walsin Lihwa’s equity investment in Cogne Acciai Speciali (CAS) in Italy has been approved by the Italian Presidency of the Council of Ministers with its Golden Power governing M&A in specific industries.

Prescriptions provided by the Italian Presidency of the Council of Ministers are in line with the integration strategy originally envisioned, which is considering the Aosta Plant as a key development platform.

In Taiwan, the equity investment has also been approved by the Investment Commission, Ministry of Economic Affairs and the Fair Trade Commission, Executive Yuan respectively on September 26 and 28. The transaction between Walsin Lihwa and CAS is expected to be completed by the end of this year.

Walsin Lihwa Announced August 2022 Sales Report

Walsin Lihwa Corporation announced its net operating revenue for August 2022. The company’s consolidated net operating revenue for August 2022 was NT$14.32 billion. January through August revenue for 2022 totaled NT$122.42 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 Announced July 2022 Sales Report

Walsin Lihwa Corporation announced its net operating revenue for July 2022. The company’s consolidated net operating revenue for July 2022 was NT$15.12 billion. January through July revenue for 2022 totaled NT$108.10 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 Announces 2022 First Half Financial Results

Walsin Lihwa Corporation announces its consolidated financial statements of the first half of 2022 on 5th August. The consolidated net sales revenue reaches NT$93.04 billion. The consolidated gross profit reaches NT$10.76 billion and the consolidated operating income is NT$68.42 billion. The net income reaches NT$9.29 billion. The earnings per share is at NT$ 2.71.

Today Walsin’s board approved to acquire 29.5% equity of PT. Westrong Metal Industry through an increase in capital, with the transaction valued at US$146 million. Post investment, Walsin’s production capacity of nickel, in accordance to its equity ownership in various production facilities will increase to 84,000 tons per year.

PT. Westrong Metal Industry is located within Indonesia Weda Bay Industrial Park established by Tsingshan. It is currently constructing 4 Rotary Kiln Electric Furnace (RKEF) lines for Nickel Matte production, as well as a self-owned 380,000KWH power generation plant. Volume production will commence in Q1 of 2024, with annual capacity of 55,000 tons of nickel per year. The nickel produced will supply downstream industries including electric vehicles production and energy storage.

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 Announced June 2022 Sales Report

Walsin Lihwa Corporation announced its net operating revenue for June 2022. The company’s consolidated net operating revenue for June 2022 was NT$15.58 billion. January through June revenue for 2022 totaled NT$92.98 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 Announced May 2022 Sales Report

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 Strengthens Its Resources Business by Investment in Environmentally Friendly Mining

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.

Walsin Lihwa Corporation To Acquire Cogne Acciai Speciali S.p.A. Expanding Its Global Reach In Stainless Steel

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 the Sale of its U.S. Solar Development Business to ECP for restructuring its business strategy of green energy

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 Announces 2022 First Quarter Financial Results

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.