A new structure, splitting the Tenova Group into two divisions: Tenova Iron & Steel and Tenova Mining & Metals is to be implemented.
In the past decade Tenova, an Italian Group based in Milan with more than 33 companies spread over five continents, has experienced strong growth both internally and through Mergers & Acquisition activities.
As a result of such strong growth, a decision has been made to implement a new structure, splitting the Group into two divisions: Tenova Iron & Steel and Tenova Mining & Metals. The intuitive rationale behind the restructuring of the Tenova operations was to enhance cohesion and integration within the two core businesses of Mining and Metals and Iron and Steel.
“This is a complex operation”, says Gianluigi Nova, CEO Tenova “put in place on a gradual basis to take into account all operational, management, and market variables. All this has a clear, precise objective: to give Tenova new and more ambitious growth targets, by leveraging the greater synergies the business units in each division will develop.”