24-06-2013

Yantai Taihai acquires Manoir Industries

On 28th February 2013, the Yantai Taihai group, the first private leader in China for nuclear casting and forging products, acquired the Petrochemical & Nuclear and Specialties business units of the Manoir Industries group with 1,600 employees and 8 manufacturing plants in Europe, India and China.

The new group keeps the brand name of Manoir Industries, one of the major suppliers for high technological knowledge and reliability in markets such as Petrochemical, Nuclear, Oil & Gas, Civil Engineering, Defense and Aerospace. Yantai Taihai has been Manoir Industries partner for more than ten years and both groups have a foundation of mutual trust, building on a strong relationship and providing significant opportunities for the future.

€40M investments and substantial synergies The pooling of expertise in forging and casting and the complementary product ranges offer synergies in the Nuclear, Petrochemical, Oil & Gas and Civil Engineering areas, and will allow both groups to develop by increasing sales in China, Europe, America and the Middle-East. In addition, Manoir’s €40M investment program in all plants will increase the added value of its products from the raw material development to the delivery of finished, machined parts, ready to use.

5 year plan
A 5 year plan has been developed to increase the industrial and technological capacity of Manoir, covering areas such as research & development through partnerships with universities and laboratories for the new raw material and product development, training to extend employee skills, production tool improvement, and recruitment.

A new President
According to Xue Xin Wang, major shareholder and Yantai Taihai Chairman, ‘’We are delighted with this transaction which embodies the cooperation between Yantai Taihai and Manoir for many years allowing the two groups to prosper. We will accelerate Manoir’s development technologically and geographically. We thank Philippe Royer for the excellent work carried out at the head of Manoir and in particular for his involvement and his determination to perform this operation during last year. We asked Gilles Roland who has worked for a long time with the Taihai group and knows very well Manoir and its businesses to deploy the growth strategy.”

An international position
By expanding its industrial capacity and speeding-up its investments and R&D programs, Manoir has strengthened its international position as a preferred partner and has increased its ability to always offer the highest levels of project support to his customers.