Walsin Lihwa tops global leader in stainless steel wire rods and bars after acquiring Italy's CAS
1 Dec 2022 16:25 reported by Ranny Fang
Walsin Lihwa (Walsin) announced on November 30 that it had acquired a 70% stake in Italy's Cogne Acciai Speciali (CAS) for 210 million euros.
After approval by the Taiwan and Italian governments, the transaction was completed with the Italian Marzorati family on the 30th. As a result, CAS's assets, revenue, and profit will be officially included in Walsin’s consolidated revenue from December.
CAS is a leading manufacturer of stainless steel wire rods and bars in Europe, producing high-value and industrially certified special steel grades, and has sales offices in 15 countries around the world. The current annual production capacity is about 220,000 tons.
Through this acquisition, Walsin's stainless steel business will complement each other in terms of products, technology, equipment, channels, and customers, increasing the overall competitiveness.
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