Walsin Lihwa takes another big step forward in field of stainless steel by taking 70% of equity of SMP
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Update time : 2023-05-09 17:40:47
Cogne Acciai Speciali (CAS), an Italian subsidiary of Walsin Lihwa, signed a contract with German private equity fund Mutares to acquire 100% equity of Special Melted Products (SMP) in the UK for £144 million. From then on, Walsin Lihwa will indirectly hold 70% of SMP's shares.
Since last year, Walsin Lihwa has made many investments. In addition to Indonesian nickel pig iron, matte nickel, and coal mines, it also invested green energy electric vehicles.
The chairman of Walsin Lihwa said that the acquisition of SMP will allow the company and CAS to take another step forward in their vision of becoming a global stainless steel leader.
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