Walsin Lihwa invests in acquiring stainless steel recycler Inox
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Update time : 2024-01-29 16:35:07
Taiwan’s Walsin Lihwa said its board of directors acquired 65% equity in Italy’s Com.Steel Inox S.p.A. (Inox), a metal recycler that spun off from Com.Steel S.p.A (Com.Steel), through its Italian subsidiary Cogne Acciai Speciali S.p.A. (CAS), for a total price of EUR 28 million.
Com.Steel is a leading scrap metal processor in Italy, and it is also a long-term supplier of CAS. Walsin Lihwa's Chairman and CEO Yu-Lon Chiao said that stainless steel scrap is one of the keys to supporting the company’s net-zero goal. Investing in Inox can consolidate key materials for stainless steel production and uphold Walsin Lihwa's commitment to moving the circular economy forward.
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