Paris, March 30, 2016: Chinese Group Yantai Taihai has been authorized to acquire a majority interest in the CTI Group (hereafter ‘’CTI’’) by the French Minister of Economy, Industry, and Digital Affairs under the authorization procedure for foreign investments in France. CTI, which operates three sites in the Manche and Eure Departments, specializes in metalwork and in industrial pipes, primarily for the nuclear, petrochemicals, and food-processing markets.
The Yantai Taihai Group, a major operator in the civil nuclear power market in China, has since February 2013 been a shareholder in the French Group Manoir Industries, one of whose divisions specializes in civil nuclear power.
This agreement between CTI and Yantai Taihai is a significant industrial partnership, given the high level of synergies between both groups. The parts manufactured by the nuclear island are genuinely complementary, making this partnership an international market leader with French manufacturing techniques and know-how, and access to the Chinese market.
As a leading private operator in Chinese civil nuclear power market, the Yantai Taihai Group will enable CTI to strengthen its presence in Asia and boost its trade ties based on several decades of industrial visibility.
Patrick Martel, the Chairman of CTI, views this merger as a great opportunity for expanding the company. ‘China is the largest nuclear power market in the world. This country has begun transitioning its power generation to nuclear power in order to reduce air pollution, and is planning on starting the construction of 300 reactors by 2030. Yantai Taihai’s acquisition of an interest in CTI will provide us with unique access to the largest market in the world’.
Mr Wang, the Chairman of the Yantai Taihai Group, is delighted with this acquisition: ‘CTI is a fine company that has high-quality know-how. By strengthening Yantai Taihai’s presence in France, we are increasing the industrial cooperation between China and France in a strategic sector’.
About Yantai Taihai: Founded in 1996, the Yantai Taihai Group is a Chinese international industrial group. Owner of Manoir Industries Group, Yantai Taihai Group has grown into a medium-sized company that employs 1,600 people via successive acquisitions. The Company’s forging and smelting businesses are highly diversified, and are primarily based on high-technology products. The Yantai Taihai Group is the leader in the Chinese civil nuclear power market and carries out industrial projects on an international scale.
The Group’s head office is located in Yantai, in Shandong Province China.
About CTI: CTI Group was founded by Patrick Martel in 1987 and specializes in metalwork and industrial pipes. The Group, which has 400 workers, has developed its offering around three sites based in the Eure and Manche Departments, namely CTI-ACDN, CTI.ACPP and AGRIANDRE.CTI.
The Group’s customers are drawn not only from the nuclear, naval, petrochemical & offshore petrochemical, and chemical industries, but also from the food-processing, water and air treatment sectors.