Cylinders Holding, the world's largest manufacturer of seamless steel cylinders based in Europe, today signed a 60% buyout agreement for Roth Mions. The contract was signed by the holding with Pamaso Capital, which held the aforementioned stake. The transaction price is not public.
Roth Mions is the last steel seamless pressure cylinder manufacturer in France. The main activity of the company is the production of diving bottles and cylinders for accumulators and hydrogen. The entry of Cylinders Holding into Roth Mions will enable the French manufacturer to become a world player not only in the French market but also in the French-speaking countries.
At the same time, Roth Mions will distribute the entire range of bottles produced throughout Cylinders Holding in the Czech Republic and Poland. "CNG and hydrogen-based projects will be an integral part of future considerations, where Roth Mions will participate in the Cylinders Holding Group's development and innovation strategy, on CNG and hydrogen application technologies in French-speaking countries," explained Cylinders Holding Chairman Jan Světlík.
The transaction will be completed no later than the end of March, when Roth Mions's technical and financial audits will take place.