Tiruña and Fosber joint future

The owners of Pamplona, Spain-based Tiruña Industrial Group (TGI) and Lucca, Italy-based Fosber Group, have jointly confirmed that they have now completed a shareholding deal. The deal centers around Fosber acquiring shares in TGI; as a result, Fosber is now holding the majority of the shares in the Spanish company. Established in 1921, TGI owns Tiruña S.L. (the Pamplona business unit), Tiruña France (located in Lyon), and Tiruña Brazil (located in Curitiba).

The financial terms of the deal have not been disclosed.

This is an exciting development that will further cement both companies as world leaders in the field of corrugating machinery and rolls.

All the interested parties are fully committed that Tiruña’s existing policies and business organizations will remain totally unchanged, operating under the same name Tiruna S.L. and guaranteeing that all customers will continue to receive all business and services as usual. Tiruña’s corrugating rolls will continue to be 100% produced, manufactured and serviced from either Europe and USA, in exactly the same way as before the deal.

Tiruña and Fosber have agreed to jointly continue developing Guangdong Tiruña, the production facility in China where they manufacture high quality corrugating rolls, specifically marketed for the Asian market (in particular for South East Asia, China and India). By combining the Tiruña know how with the proven capabilities of Fosber of managing a production facility in China is not unrealistic to forecast that this enterprise will very quickly become the market leader in these fast growing target territories.