Taiwanese wire rod manufacturer Walsin Lihwa reported NTD 14.78 billion (around USD 457 million) in consolidated revenue for October, marking a slight 1.9% rise compared to September. However, this figure reflects a nearly 3% drop from October 2023, which the company attributes primarily to a decrease in global nickel prices. Nickel, a key component in stainless steel production, experienced an 18% y-o-y price decline, impacting revenue performance.
Cumulatively, Walsin Lihwa’s revenue for the first ten months of 2024 reached NTD 147.38 billion (approximately USD 4.56 billion). This represents an 8.88% decrease compared to the same period last year.
In another development, Walsin Lihwa Corporation, through its subsidiary Cogne Acciai Speciali S.p.A. (CAS), acquired Mannesmann Stainless Tubes GmbH (MST) for approximately EUR 116 million. MST is known for the production of seamless tubes and operates in Germany, France, Italy, and the USA. The acquisition enables Walsin to expand its customer base in premium markets and contributes to the development of CAS' vertical integration strategy. Following the acquisition, MST has been rebranded as DMV to focus on material integration and delivering high-quality seamless tube solutions.
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