Tenova sells HTC Group to Ningbo Qijing

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Tenova, a Techint Group company, has concluded the sale of the HTC Group, which includes four companies — IVA Schmetz (Germany), Mahler (Germany), Fours Industriels B.M.I. (France), and IVA Schmetz Industrial Furnaces (China). The four companies specialize in advanced technologies for heat-treatment processes for components.

The purchasers are Qizhi GmbH and Shanghai Qizhi Information Technologies Co., Ltd. both members of Ningbo Qijing Holding Co., Ltd. Ningbo Qijing is also the parent company of Qijing Machinery Co. Ltd., a company specializing in the research, development, manufacturing, and assembly of mechanic systems and precision parts mainly in the home electric appliance field and industrial application field.

“As an experienced company in supplying precision parts for different industries, we recognize in the heat-treatment one of the most critical processes for precision machined parts. We believe that HTC group, with its expertise and product range, has the potential to gain space and relevance in growing sectors, especially in the Chinese market,” said Wang Yongqi, chairman of Ningbo Qijing Holding.

The demand for heat-treatment technologies is booming in the aerospace industry, while in two other business sectors such as medical and metals powders, this equipment will face a rapid expansion in the near future.

“Qijing group represents a solid industrial partner in search of an excellent European technological player to expand its business. While we as Tenova are focused more and more on the ‘green’ technologies for large steel and aluminum plants, I am convinced that Qijing is the right purchaser to boost the development of the HTC companies, that will enhance them and develop their full potential in other sectors,” said Andrea Lovato, Tenova CEO.

The successful outcome of the purchasing process was possible also thanks to Seta Capital and UniCredit, which have acted as financial advisors to Tenova in the context of the transaction.

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