This step will provide the necessary financial resources for the acquisition of Mannesmann Stainless Pipes from Salzgitter AG. With this move, the company aims to increase its competitiveness in the global market.
Cogne stated that this strategic decision will not only support financial growth, but also the achievement of its long-term sectoral objectives. Focused on expanding its global reach to respond to the growing demand in the aerospace, nuclear, medical and energy sectors, the company sees this investment as part of its plans to improve its operational capacity. The company has also invested significantly in the modernization of its production facility in the Aosta region of Italy. In particular, the modernization of the continuous casting line used for the production of special steel blooms is seen as an important part of these efforts.
Cogne's growth strategy draws attention with its recent acquisitions. In Sweden, the company acquired Outokumpu's long product business and stainless steel scrap supplier ComSteel Inox, strengthening its market position. It also expanded its presence in the UK last year by completing the acquisition of Sheffield-based Special Melted Products (SMP).
Taiwan-based Walsin Lihwa, Cogne's main shareholder, plans to invest a total of EUR 110 million in the Aosta plant between 2022 and 2024. This investment aims to increase its share in the European and Asian markets, while also expanding its operations in the US. All these steps are part of the company's strategy to increase its influence in the global specialty steel market.
The acquisition of Mannesmann Stainless Pipes, which is expected to be completed in the fourth quarter, represents a critical stage in Cogne's global expansion policy. Aiming to strengthen its market position by focusing on high value-added products, the company continues its growth journey by adapting to the changing dynamics of the industry.
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