The joint venture between Marcegaglia Steel and Manni Group, announced in July, was officially closed today after receiving approval from the European Commission last November.
The new entity will focus on insulated and sectional door panels, becoming the second-largest panel producer in Europe and a significant player in the Italian market. With a client base spanning over 70 countries, the venture is expected to generate approximately EUR 500 mln in revenue and employ nearly 700 people.
Under the agreement, Marcegaglia Steel will contribute its Italian and Polish production facilities to Isopan Spa. In return, it will acquire a 50pct stake in Isopan, equal to the ownership held by Manni Group.
The joint venture will oversee 16 production lines across plants in Italy (Pozzolo Formigaro, Trevenzuolo, and Patrica) as well as international sites in Spain, Romania, Poland, and Mexico. These facilities are strategically positioned to serve the North American market. Operations will be carried out under the Isopan and Marcegaglia RWD brands, targeting both domestic and international markets.
Marcegaglia, a major steel processor with a yearly capacity of 6.5 mln tons of finished steel, operates 37 plants across four continents. In January 2023, the company expanded its portfolio with the acquisition of an electric furnace for special steel products in Sheffield, UK.
Manni Group is active in three main sectors: production, processing, and marketing of high-tech products. Its subsidiaries include Manni Sipre, a leader in pre-processed steel elements for construction; Manni Inox, a stainless steel benchmark; Isopan, a leader in insulating panels for walls and roofs; and Manni Energy, focusing on renewable energy and energy efficiency services.
