The owners of Pamplona, Spain-based Tiruña Industrial Group (TGI) and Lucca, Italy-based Fosber Group, have jointly confirmed that they have now completed a shareholding deal. The deal centres around Fosber acquiring shares in TGI; as a result, Fosber is now holding the majority of the shares in the Spanish company. Established in 1921, TGI owns Tiruña S.L. (the Pamplona business unit), Tiruña France (located in Lyon), and Tiruña Brazil (located in Curitiba). The financial terms of the deal have not been disclosed.
All the interested parties are fully committed that Tiruña’s existing policies and business organisations will remain totally unchanged, operating under the same name Tiruna S.L. and guaranteeing that all customers will continue to receive all business and services as usual. Tiruña’s corrugating rolls will continue to be 100% produced, manufactured and serviced from either Europe and USA, in exactly the same way as before the deal.
Tiruña and Fosber have agreed to jointly continue developing Guangdong Tiruña, the production facility in China where they manufacture high quality corrugating rolls, specifically marketed for the Asian market (in particular for South East Asia, China and India). By combining the Tiruña know how with the proven capabilities of Fosber of managing a production facility in China is not unrealistic to forecast that this enterprise will very quickly become a leading provider in these fast growing target territories.
Left to right: Jose M Guibert (Tiruña), Alfio Brandi (Fosber), Massimiliano Bianchi (Fosber), and Javier Argal (Tiruña).
“This is an excellent strategic move for the development of Tiruña, as growth over the last five years or more has partially been attributed to the strong orders received from Fosber for the supply of corrugating rolls for their growing number of complete corrugators being installed around the world,” states Jose M. Guibert, TGI President and Tiruña’s Managing Director. “We have earned a strong reputation from the market for not only supplying the highest quality of finished goods, but also for the exceptional levels of service and support. This will only be enhanced from now, as it is very much ‘business as usual’ for us and our growing customer base around the world.”
“As two companies, we have been aligned for many years,” says Massimiliano Bianchi, President and Managing Director, Fosber Group. “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. 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 quality rolls that we need for Fosber’s ongoing activities.”
