Walsin’s Subsidiary Cogne Acciai Speciali Completes Acquisition of Special Melted Products2023.09.19
Walsin Lihwa Corporation (“Walsin” or the “Company”) today announced the successful completion of its acquisition of Special Melted Products Ltd (“SMP”) by Cogne Acciai Speciali S.p.A. (“CAS”), an indirect 70% owned subsidiary, for a consideration of £142 million.
Mr. Yu-Lon Chiao, Chairman of Walsin, commented: “The closing of our acquisition of SMP today marks an important milestone. It significantly boosts our ability to serve premium segments such as aerospace and to further execute on our strategy of being world’s leading stainless steel and nickel alloy manufacturer. As we expand our global operations, we will present our customers with an enhanced product offering, broader geographic reach, and the best-in-class expertise.”
On 5 May 2023, Walsin announced it had agreed to acquire SMP via CAS, subject to customary conditions and regulatory approvals. Having met all conditions and with the transaction completed, the combined organization will integrate its resources and manufacturing facilities, delivering a comprehensive platform of nickel-based alloys and providing customers with better material solutions across different market applications.
Prior to the acquisition of SMP, Walsin completed the acquisition, also through CAS, of Outokumpu Long Products AB in Sweden, namely the Degerfors and Storfors Plants, in early August 2023. The Company continually seeks out transformative opportunities to extend core capabilities and sales network. Together with recent serial acquisitions, Walsin is emboldened to pursue its ambition of achieving world-leading positions in stainless steel and nickel alloy business.
Founded in 1800’s, SMP is a leading supplier of premium, specialty steels and nickel based super alloys used in critical applications for the aerospace, oil & gas and civil nuclear industries. Based in Sheffield of UK, it has 3 sites in proximity with significant melting, forging, and machining capabilities. With exceptional manufacturing capabilities, SMP offers high levels of product innovation to satisfy most critical customers. It is a “one stop shop” for multiple melted alloys and components in specifically chosen industrial field.
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.
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 20 production and sales sites across Greater China, Southeast Asia, and the U.S., 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