Primetals Technologies Italy sold to German investor Callista
by David Fleschen
On October 29th, 2021 Primetals Technologies Ltd., London (UK) entirely transferred its shares of Primetals Technologies Italy S.r.l., Marnate (Italy) to Callista Private Equity GmbH, a financial investor with registered office in München (Germany).
As part of the transaction Primetals Technologies Italy S.r.l. will be renamed to POMINI Long Rolling Mills S.r.l. (Pomini). The intellectual property of Primetals Technologies Italy is entirely transferred to Pomini.
Primetals Technologies and Callista Private Equity have agreed to continue collaborating for certain types of long rolling mills, WinLink plants, and in the field of mini mills for long products on a project-by-project basis.
“This has been agreed with the intention to enable Primetals Technologies to continue benefiting from incorporating Pomini portfolio elements in our contracts and to enable Pomini to maintain a sustainable business relationship with our company. We would like to thank all our employees in Italy for their dedication and commitment over the years, and we sincerely wish Pomini all the best for the future,” states Aashish Gupta, Head of the Global Business Unit Upstream Technologies.
Effective November 2021 Primetals Technologies will execute its in-house key product offerings for Long Rolling business under the lead of its two Centers of Competence (CoC):
- CoC for Long Rolling Mills in Sutton, Massachusetts, USA, with the focus on wire rod mills, bar in coil lines, combination mills including wire rod, bar in coil and straight bar outlet, high speed rebar mills, non-ferrous rolling mills for copper, and aluminum mills.
- CoC for Electrics & Automation for Long Rolling Mills in Erlangen, Germany, supported by our regional entities in Poland, Russia, India, China, and the USA.
In the future, the WinLink technology – that directly links a high-speed caster to a high availability rolling mill for long products – will be owned by Primetals Technologies alone and will be promoted out of Linz, Austria. Mini mills including long rolling mills and mini mills based on WinLink technology will be offered under the lead of Primetals Technologies Austria and will be executed with support from the CoCs for EAF & secondary metallurgy, dedusting, continuous casting, long rolling mills, and electrics & automation.
To ensure Primetals Technologies’ long-term competitiveness in the challenging long rolling mill market sales, engineering, research and development, and project management for long rolling mills will be concentrated at Sutton, Massachusetts, USA.
Source: Primetals, Photo: Fotolia