Tenova has positively concluded the selling process of the HTC Group, which includes four companies – IVA Schmetz (Germany), Mahler (Germany), Fours Industriels B.M.I. (France) and IVA Schmetz Industrial Furnaces (Shanghai) (China) – specialized 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 specialized in the research, development manufacturing and assembling of mechanic systems and precision parts mainly operating in the home electric appliance field and industrial application filed (in particular automotive, power tools and hydraulics).
The successful outcome of the purchasing process was possible also thanks to Seta Capital and UniCredit, who have acted as financial advisors to Tenova in the context of the transaction.