Cogne Acciai Speciali to acquire Mannesmann Stainless Tubes

Cogne Acciai Speciali SpA has finalized a contract with Salzgitter AG to acquire Mannesmann Stainless Tubes GmbH (MST).

Mannesmann Stainless Tubes GmbH (MST) is renowned for its production of seamless stainless steel and nickel alloy tubes and pipes across global operations in Germany, France, Italy, and the USA.

The purchasing price of EUR 135 million corresponds to the net book value, according to Salzgitter AG.

The deal has gained approval from Cogne’s parent company, Walsin Lihua, based in Taiwan. This acquisition marks a strategic move for Walsin, building on its 70% stake in Cogne, acquired in 2022, as it aims to penetrate the high-growth market of high-end stainless steel and nickel alloy products. Yu-Lon Chiao (Chairman of Walsin Lihua) praised MST as a company with a strong customer base and highly knowledgeable in high-end industry segments. Walsin Lihwa, including Cogne, ranks as the number three producer of stainless steel long products globally. Continue Reading? Please click box below!