Tenova Acquires Controlling Interest in Cold Mill Manufacturer I2S
06/05/2009 - Tenova acquires the controlling interest of I2S, a leading manufacturer of high quality cold rolling mills.
Tenova has acquired the controlling interest of Integrated Industrial Systems Inc., a U.S.-based company known as I2S.
I2S, a leading manufacturer of high quality cold rolling mills, delivers rolling speeds ranging from 10 to 1500 meters/minute at widths ranging from 100 to 2800 mm. Its technology can be applied to carbon steel, stainless steel, copper based alloys, silicon steel and specialty steel and alloys.
I2S also is one of just five companies worldwide that are licensed to supply Sendzimir mills, which are widely acknowledged as the best available technology for precision rolling of stainless steel strip.
According to Tenova, its acquisition of I2S is in line with the company’s strategy of expanding into more and more technological fields while creating significant synergies. The announcement comes just few weeks after the set up of Tenova Multiform, a Mumbai manufacturer of strip processing lines and cold rolling mills.
“The deal has been finalized at the ideal moment for both parties,” said Raimondo di Carpegna Varini, Senior Vice President of Tenova and Chairman of the newly formed Tenova I2S. “Tenova I2S has an excellent reputation in the designing and production of cutting-edge cold rolling mills. They also develop process automation and control systems in-house. As part of Tenova, it will further boost our growth worldwide, especially in the Strip Processing field.”
Tenova designs and supplies advanced technologies, products and services for the metals and mining industries. Tenova operates close to its customers through a network of 32 companies based on the 5 continents.
Tenova I2S, a leading manufacturer of high quality cold rolling mills, employs a workforce of 200 at its factory in Yalesville, Conn.
