Joint Venture between Marcegaglia Steel and Manni Group is now operational

PRESS RELEASE

Verona, January 10, 2025. The joint venture between Marcegaglia Steel and Manni Group, signed last July, was officially closed this morning following the European Commission's approval granted last November. The new entity will focus on insulated panels and sectional door panels, positioning itself as a key player in the Italian market and becoming the second-largest panel producer in Europe. With a client base spanning over 70 countries worldwide, the joint venture will have an aggregate turnover of approximately 500 million euros and will be able to count on a total of almost 700 employees.

The agreement includes Marcegaglia Steel contributing its Italian production facilities, managed by Marcegaglia Buildtech, and its Polish production facilities, managed by Marcegaglia Poland, to Isopan Spa. In turn, Marcegaglia Steel will acquire a 50% stake in Isopan Spa, matching the 50% ownership held by Manni Group. The companies involved include a total of 16 production lines distributed across the plants in Italy, located in Pozzolo Formigaro (AL), Trevenzuolo (VR) and Patrica (FR), as well as international sites in Spain, Romania, Poland and Mexico, functional to serve the North American market. The joint venture will operate under the ISOPAN and MARCEGAGLIA RWD brands, serving both domestic and international markets.

"The joint venture with Marcegaglia Steel marks a turning point for Manni Group. It strengthens our internationalization strategy and represents a significant milestone in Isopan’s history, as the agreement is finalized during its 50th anniversary year", emphasized Francesco Manni, President of Manni Group. "This milestone celebrates the expertise we’ve developed over the years and underscores our ongoing evolution toward a more innovative future with an even greater contribution to the decarbonization of the construction industry. Through this synergy, which extends our global reach, we will continue leading the sector with innovative and sustainable solutions, solidifying our role as key players in the future of international construction."

"We are extremely satisfied with this joint venture, which transforms a long-standing and fruitful collaboration into a union between two significant entities—and families—of Italian manufacturing with a rich tradition in steel processing," commented Antonio and Emma Marcegaglia, both heads of the family business. "This agreement, which combines well-established expertise and strategic industrial infrastructures, will allow us to intensify investments in research and development, offering the market highly advanced and increasingly efficient building solutions. Efficiency, durability, versatility: steel is the ideal solution to meet the diverse demands of civil and industrial construction, guaranteeing quality, safety, and environmental sustainability."

In the transaction, Marcegaglia Group was advised by the law firm Cappelli Riolo Calderaro Crisostomo Del Din & Partners, while Manni Group was assisted by Studio Lambertini & Associati. Deloitte Financial Advisory handled the due diligence and business plan preparation, and Bonelli Erede managed the antitrust aspects of the operation.