Cogne Acciai Speciali transaction closing: Walsin Lihwa Corporation at 70% of capital
Today, after clearances from all competent authorities, Walsin Lihwa Corporation became the majority shareholder of Cogne Acciai Speciali whilst the Marzorati family will remain a long-term shareholder with a 30% stake.
This transaction gives rise to the largest worldwide producer of stainless specialties long products and marks an historical moment for Cogne Acciai Speciali and all its key stakeholders.
As of December 1st, Mr. Yu-Lon Chiao will be the new President of Cogne Acciai Speciali, succeeding after almost three decades to Eng. Giuseppe Marzorati, who has been awarded honorary past Presidency.
Mr. Massimiliano Burelli has been appointed as Chief Executive Officer of the Company, with the target to run a successful integration and to implement the development plan, both organic and inorganic, in order to further foster the success and growth of Cogne Acciai Speciali.
Mr. Yu-Lon Chiao noted: “I am very pleased to have finalized this deal as Cogne is an extremely well-run company, which will be fully synergetic and a value creator within the two groups. I am also delighted to bring Mr. Burelli onboard, who will share with all our team his very long and successful experience in the industrial and steel sector. Cogne has an outstanding management team and highly valued technologies and products.
These are the strengths of our cross-continental strategy, which will offer tremendous business opportunities and development in the long run”
About Cogne Acciai Speciali S.p.A.
Cogne Acciai Speciali S.p.A. (“CAS”) is a world leading manufacturer of stainless steel and nickel alloy long products located in Aosta, Italy, providing manufacturing services of melting, casting, rolling, forging and machining. CAS has a niche market for industrial certification products, includes stainless steels and nickel alloys long products, valve steels for automotive and tailor-made products on customers drawing in special steels. CAS has a leading position in the European market with sales offices in more than 15 countries around the world. For more information, please visit https://www.cogne.com
About Walsin Lihwa Corporation
Established in 1966 and listed on Taiwan stock exchange since 1972, Walsin Lihwa Corporation is an industrial conglomerate with operations spanning wire & cable, stainless steel and renewable energy. With over 20 production and sales sites across Greater China, Southeast Asia and US, Walsin products are widely used across industrial, automotive, oil and gas and consumer sectors. Walsin is headquartered in Taipei, Taiwan. For more information, please visit https://www.walsin.com
