The Taiwanese group Walsin Lihwa Corporation enters as a majority partner in Cogne Acciai Speciali. This is the sintersis of the general agreement reached by the two groups. The goal, says a note released by Cogne, is to implement
together with the Marzorati family an ambitious international development path.
Walsin Lihwa Corporation enters the capital with a 70% stake and the transaction should ensure Cogne Acciai Speciali important synergies and access to all the advantages deriving from a large listed group, in particular as regards its presence on the Asian markets. “The Marzorati family – explains the note – will remain committed to the company in the long term in order to support the planned growth path, in Europe as well as in North and South America”.
“We are happy that the long steel tradition of our family – says Giuseppe Marzorati, president of Cogne Acciai Speciali – which has led the group to be a recognized global leader in our sector, can cross the successful trajectory of the Walsin Lihwa Corporation group, with which we share the same values, the same concreteness and the same strategy, to create the largest group in the world in the production of special long stainless steels, with concrete ambitions to further expand the scope of operations in Europe and the Americas “.
The contract will be signed in the coming weeks and the closing of the agreement remains subject to the normal authorizations of the competent authorities, which should arrive by 2022. Walsin Lihwa Corporation, which is assisted in the transaction by the Chiomenti Law Firm, is a group listed on the Italian stock exchange. Taipei active in various sectors, of which the Basic Material division (wire & cables, stainless steel and commodity business) has 7 thousand employees and 4.7 billion euros in turnover.
Cogne Acciai Speciali, which is assisted in the transaction by Advant Nctm Law Firm, is a global leader in long stainless steel and nickel alloy products, which in 2021 had a turnover of 645 million euros with a workforce of 1413 people.