Italy-based metallurgical and mechanical group Calvi Holding S.p.A. has announced that it has signed a strategic partnership agreement with France-based Manoir Group, owned by China's Yantai Taihai Group, a Chinese conglomerate that operates in several industrial sectors, including the manufacturing of components for nuclear plants and metallurgical products for the industrial and petrochemical sectors.
Accordingly, Calvi Holding has sold a non-controlling interest in its subsidiary Siderval to Manoir Group for €26.6 million. Meanwhile, Siderval and Yantai Taihai Group will also establish a joint venture in China, specifically in the province of Shandong, to install a large-scale hot extrusion plant for the production of special profiles. This will allow Siderval to consolidate its international leadership by complementing and expanding the range of its products as well as of the industrial sectors it serves.