The production facilities included in this operation are in Romania, in Popesti-Leordeni (Isopan Est), Italy, in Alessandria (Piedmont), Verona (Veneto) and Frosinone (Lazio), in Spain, Poland and Mexico.
Isopan Est posted EUR94.5 million revenue last year and its production reached 3.91 million cubic meters of sandwich panels, 12% more than in 2022. Two thirds of its production went its home market and the rest was exported, mainly to Central and Eastern European countries.
The deal, which is subject to meeting certain conditions and securing approval from relevant authorities, entails, on the one hand, the transfer by Marcegaglia Steel of its manufacturing operations in Italy, controlled by Marcegaglia Buildtech, and of the production facility in Poland, controlled by Marcegaglia Poland, to Isopan Spa. On the other hand, Marcegaglia Steel buys shares up to a 50% stake in Isopan Spa, with Manni Group owning the other 50%.
The joint venture will generate about EUR500 million revenue and have almost 700 employees.
(English version by Loredana Fratila-Cristescu)