The Taiwanese group Walsin Lihwa Corporation has reached an agreement to become a majority shareholder, together with the Marzorati family, in an ambitious path of international development.
- With the capital entry of a 70 percent stake by Walsin Lihwa Corporation, Cogne Acciai Speciali will secure important synergies and access to all the benefits of being part of a large company and stock listed corporation, with a particularly important presence in Asian markets.
- The Marzorati family will remain committed to the Company over the long term in order to support a carefully planned growth path, in Europe, North and South America.
- Walsin Lihwa Corporation and the Marzorati family share the same vision on sustainability/ESG, with a strong focus on people and with a global strategic vision.
- The President of Cogne Acciai Speciali S.p.a, Engineer Giuseppe Marzorati says: „We are particularly pleased and honored that the long steelmaking tradition of our family, which has led Cogne Acciai Speciali to being recognized as a 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 perimeter of operations in Europe and the Americas.“
- The contract that seals this agreement will be signed in the coming weeks and the closing of the deal remains subject to the approvals of the Competent Authorities, which is expected to be received by 2022.
Walsin Lihwa Corporation, which is being assisted in the transaction by Chiomenti Law Firm, is a group listed on the Taipei Stock Exchange active in several sectors, of which the Basic Material division (wire & cable, stainless steel and commodity business) has 7,000 employees and 4.7 billion euros in sales. Cogne Acciai Speciali S.p.a., which is being assisted in the transaction by Advant Law Firm NCTM, is a global leader in long products of stainless steel and nickel alloys, which in 2021 had sales of 645 million euros with a workforce of 1413 people.