Tenova Acquires Envita
April 9, 2012
Tenova acquired Envita Co. Ltd., a South Korean company active in the fields of industrial furnaces, processing lines and heat-treatment furnaces for aluminum components in the automotive industry. Founded in 1995 and with headquarters in Incheon (near Seoul), Envita operates three facilities in South Korea, Vietnam (Ho Chi Minh City) and China (Yantai) and has more than 100 employees. The acquisition marks Tenova's first step into South Korea, the country with the per-capita highest density production of steel in the world. The acquisition also allows the expansion of Tenova's Iron & Steel division product portfolio into the business of cold rolling and aluminum for the automotive industry.