Taiwan-based stainless steel, wire and cable manufacturer Walsin Lihwa Corporation has announced that it has completed the acquisition of US-based tube producer Mannesmann Stainless Tubes (MST), part of the German group Salzgitter AG, through its subsidiary Italian steelmaker Cogne Acciai Speciali for about €116 million.
Having production facilities across Germany, France, Italy and the US, MST will allow Walsin to expand its customer range. Moreover, Cogne will be able to support its vertical integration strategy as well as increase its melting capacity and its competitiveness in high-demand industries.
The company also stated that MST will be rebranded as DMV, and it will continue to provide high-quality, competitively priced seamless tubing solutions for mission-critical environments and applications.
