Walsin Lihwa’s Italian subsidiary completes acquisition of Mannesmann Stainless Tubes
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Update time : 2024-11-04 15:18:54
Walsin Lihwa, a stainless steel wire rod and cable manufacturer in Taiwan, announced on November 1 that its 70%-owned Italian subsidiary Cogne Acciai Speciali S.p.A. (CAS) has successfully completed the acquisition of 100% equity of Mannesmann Stainless Tubes GmbH (MST) for around EUR 116 million.
MST is a renowned stainless steel seamless pipe mill in the world, operating five plants in Germany, France, Italy, and the US, with customers in oil and gas, new energy, petrochemical and chemical, automotive, aerospace, and other industries.
Walsin Lihwa said that the acquisition of MST will significantly expand its customer range in the high-end certification market and widen its market share in the downstream application industry. Besides, this combination gives Walsin Lihwa a leading position in the stainless steel and nickel alloy value chain, thereby more comprehensively meeting the needs of diverse end markets.
After completing the transaction, MST will be officially renamed to "DMV" to reinforce its dedication to material integration and entrepreneurship.
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