Update on the sale of the Petrochem&Nuclear and Specialties business units to Yantai Taihai Group

The transaction process is going on as scheduled.


The French Ministry of Economy and Finance gave its approval to Yantai Taihai on December 7th.


All commitments made by Yantai Taihai and by Manoir, that had to be completed before December 31st, 2012, have been fulfilled.


Manoir could then proceed with its legal reorganization, including the transfer of assets to the new companies Manoir Pîtres, Manoir Saint-Brieuc, Manoir Bouzonville and Manoir Custines.


Closing of the transaction is scheduled on February 28th, 2013, when all administrative procedures are completed.


Manoir Industries, an international metalworking group, develops and operates alloys and processes for manufacturing high performance metal components molded and forged for the aeronautical, petrochemical, nuclear, railway, oil extraction, government contract and energy markets. The solid reputation it has acquired for its technical expertise has enabled it to establish a real name for itself in the industry through serving its customers. Yantai Taihai Group, a private company specializing in metalworking, and one of the leading companies in China’s civilian nuclear market, has been partnered with Manoir Industries for over 15 years.










Paris, January 2, 2013


 

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