Primetals Technologies Italy Sold to German Investor
11/17/2021 - Shares of Primetals Technologies Italy S.r.l., Marnate (Italy), were transferred by Primetals Technologies Ltd., London (U.K.), to German investor Callista Private Equity GmbH last month.
With this transition also comes a name change: Primetals Technologies Italy S.r.l. will become POMINI Long Rolling Mills S.r.l. (Pomini), according to a company press release.
“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,” said Aashish Gupta, head of the global business unit upstream technologies.
Both Callista and Primetals Technologies have agreed to continue working on certain types of long rolling mills as well as collaborating on a project-by-project basis on specific types of long rolling mills, WinLink plants and in the field of mini-mills for long products. The company said that project management for their long rolling mills will be centered in Sutton, Mass., USA.