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, with turnover above 25 millions of Euro, 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.
Today Tiruña features recognized certifications such as:BS EN ISO 9001\ASME “U” Stamp\National Board “R” Stamp\EC Pressure Equipment. This means Tiruña’s subjected to various quality checks, from raw materials to final products. This allows the Spanish company to provide high quality and long lasting rolls.
Because of its lengthy commercial experience, Tiruña is knowledgeable of all the corrugating machines on the market and is able to manufacture any corrugating and pressure roll. Depending on the type of machine, flute, special coating and papers used , Tiruña designs and manufactures the corresponding tailor-made rolls.
Thanks to the most modern equipment to coat rolls and thanks to the proprietary polishing equipment, the TGI has become the specialist in re-cutting, reconstruction and coating, providing very smooth tungsten rolls.
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.
With their know-how they will give a boost to the market of corrugated board and they will guarantee the supply of the latest technology products, innovations and assistance both on corrugator lines and rolls.
Closing on 30th May,2019
Mr. Tang, Massimiliano Bianchi , Michele Piovan visited Tiruña factory in Pamplona
DongFang Precision Group has always been committed to the development of high-end smart equipment and core industrial component sector. During the past five years, the Group has carried out the strategic upgrading of global expansion and the extension of the complete industry chain through global M&A and the industrial chain integration, which has created the sounded solution of the whole industrial chain of corrugated intelligent packaging equipment, and achieved important Milestone results.
The successful acquisition of Tiruña is another important achievement of DongFang Precision Group’s international M&A in the corrugated packaging equipment industry. It has far-reaching strategic significance for the Group's strategic approach of “globalization and completed industrial chain” and strengthens the group’s in-depth layout and resource integration in the industry chain.
Message From the CEO of DF (Annie)：Welcome Tiruña to join Fosber and become part of DongFang Group family. Tiruña is one of the world's leading corrugated roller manufacturers and a very important long-term strategic partner of Fosber during the past years with a hundred year history. Looking to the future, DongFang Group will continue to provide Fosber and Tiruña with key resources and system platforms in market, products and management area. Furthermore, the group will continuously encourage business integration and coordinated development among group companies. It is believed that the successful marriage of Fosber and Tiruña will achieve a mutual win, laying a strong cornerstone for the vigorous development of the high-end smart equipment business of DongFang Group.
Message From the CEO of Fosber Group (Massimiliano Bianchi)：It is a great step for us, as we now bring into our Group one of the premier suppliers of corrugating rolls. As two companies, we have been aligned for many years.
Our wholly owned subsidiary, Fosber America, has been a partner with Tiruña in the Tiruña America business, based in Green Bay, Wisconsin for many years; as a result of this joint venture, Tiruña America signed priority or exclusive contracts with some major groups of the corrugated industry.
We welcome the entire team at Tiruña into the Fosber family and look forward to extending our mutual collaborations.