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On May 30, 2019, Guangdong DongFang Precision Science & Technology Co., Ltd. acquired a 70% stake in the Spanish company Tiruña Grupo Industrial S.L. (“Tiruña”) through its wholly-owned subsidiary, the Italian Fosber Group S.p.A. Parties completed the equity delivery under the witness of the notary public in Pamplona, Spain. After this acquisition, Fosber officially became the controlling shareholder of Tiruña. At the same time, according to the "Share Purchase Agreement", Fosber enjoys a Call Option of the remaining shares, and the right to acquire the remaining shares according to the operation performance of Tiruña after three years of closing. Tiruña S.L.U. was founded in 1921 in Spain under the name of Talleres Iruña. Since its beginnings, the company has specialized in the manufacture and repair of metal parts for various industries. Tiruña Grupo Industrial S.L. (TGI), headquartered in Pamplona, together with its subsidiaries, is a leading historic industrial group, active in the manufacturing and commercialization of corrugating rolls and pressure rolls for the corrugated industry. It has manufacturing plants in USA, France and Spain, it is currently the second largest manufacturer in the world and exports to over 60 countries, customizing its rolls according to the customer requirements which are both machinery manufacturers and end customers.
Step by step the company introduced its products on virtually every kind of carton-making machine. This was possible thanks to a network of more than 30 agents spread all over the world who have been able to transmit Tiruña's values of quality, service, excellence and commitment to the customers.
Through its subsidiaries and agents, Tiruña can guarantee a proactive presence to all its clients.
TGI has years of cooperation with Fosber and it is one of its long-term strategic partners. The corrugating rolls produced by Tiruña are one of the core and indispensable parts of Fosber's line. This shareholding acquisition brings the two companies, who share a common customer base, closer together, allowing for continuing growth, as well as securing the supply of excellent rolls quality that Fosber needs for ongoing activities.
Tiruña and Fosber common long term strategy is to continue to invest in sales, services and R&D in order to be always very close to the customers because they both have the same goal: to be recognized as partners able of managing every need with professional and continuous support with the best solution.
Closing on 30th May,2019
Mr. Tang, Massimiliano Bianchi , Michele Piovan visited Tiruña factory in Pamplona
