Signed today the contract among parties, which envisions Walsin Lihwa Corporation entering in Cogne Acciai Speciali (CAS) capital with a share of 70%. The Marzorati family will remain as a stable investor in CAS in the long term.
The agreement sets the creation of the global leader in specialty stainless steel long products and highlights the centrality of the Aosta plant for the European market. The sustainability plan, approved by the Company and blessed in all its elements, and the investment plan for more than 110 million euro in the next three years (2022-24) for the Aosta plant are confirmed.
The growth strategy of the new Group, which is already strongly present in Europe and Asia, with concrete development plans for USA - delegated to Cogne Acciai Speciali -, will require progressive but significant production volume increase at the Aosta plant, with relative enhancement of the shift model and, therefore, of the employment level.
The Group production set-up is highly complementary and synergic, granting, in the medium term, “one-stop shop” logic also for most complex stainless steel grades and nickel alloys at global level.
The attention to people, to sustainability at its broader terms and the obsession for quality production and service level to Customers are common elements to both Companies, which will simplify and ease the joint development process.
Mr Chiao, Chairman of Walsin Lihwa Corporation, states: “We treasure our joint investment with the Marzorati family in CAS, in the Valle D’Aosta community: we highly regard the skills and competence of CAS managers & employees. Walsin is an large industrial group, not a financial investor, and we are here to grant the long term growth of the Group”
The deal is subject to usual regulatory authorisations.
Aoste, 8 june 2022
