MILAN, July 17 (Class Editori) – Tenova, a company of the group Techint specialized in the realization of innovative solutions for the mining and steel industry, sold HTC to Qizhi and to Shanghai Qizhi Information Technologies, companies controlled by Ningbo Qijing Holding.
Four others companies – specialized in advanced technologies for the components heat treatment processes – operates within HTC: the German Iva Schmetz and Mahler, the French Fours Industriels BMI and the Chinese Iva Schmetz Industrial Furnaces (China). HTC has, altogether, a turnover of almost 100 million euros, with around 10 million of EBITDA. Seta Capital and Unicredit supported the operation for what concerns the financial aspect.
Ningbo Qijing controls Qijing Machinery Co. as well, specialized in the research, production and assembly of high-precision mechanical systems and of components for the household appliances industry, besides for industrial applications in the automotive, energy and hydraulic industries.
"As suppliers of high-precision components for different industrial sectors, we are very well aware of how heat treatments of materials is a critical step in the production chain. This is the reason why we think that the HTC acquisition – with its expertise in several production processes – can push us to develop in the major growing sectors of the Chinese market," explained Wang Yongqi, the Ningbo Qijing Holding chairman, based in the seaside city of the same name in the Zhejinag province, and listed in the Shanghai Stock Exchange.
Technologies for the heat treatment of materials are highly requested in the aerospace industry, and analysts believe that there will be a significant development during the coming years in the medical treatments sector and in the powdering metal processes. "Qijing aims at spreading the business to Europe, focusing on green technologies for the construction of steel and aluminum plants," said Yongqi, "I believe that HTC, with the support of Ningbo Qijing, will be able to realize all of its potential in many industrial sectors", stated Andrea Lovato, Tenova CEO.
Tenova, which in 2018 registered a turnover of almost 1 billion dollars, decreased compared the 1,5 in 2014, is a leader in the development of innovative solutions, reliable and sustainable for the mining and steel industry. With more than 3,000 employees spread around the world, the company works hand in hand with its clients-partners to design and develop technologies and services able to improve their activity, realizing solutions which helps mining and steel companies to cut their costs, saving energy, reducing the environmental impact and improving the work conditions of its employees.
Tenova is part of the group Techint, controlled by the Rocca family, the cousins Paolo and Gianfelice, the founder's nephews who lead the company. In 2018, the group reached 23,5 billion dollars of turnover, growth by 27% compared the previous year, thus returning to a record high reached in 2013-2014.
The core business is focused on the production of pipes mainly used in the oil&gas industry manufactured by Tenaris, in particular in the south and north America – with a turnover in 2018 of more than 7,5 billion dollars. Ternium, another essential business, produces steel plates and in 2018 registered a turnover of almost 12 billion dollars, an all-time record. The engineering and construction division is also part of the group – and last year exceeded 1,5 billion in turnover – as well as the hospital division – focused on the Humanitas activities in Milan.
(Source:Class Editori)
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