Torraval joins the Italian group Mita to continue growing in South America
INTERNATIONAL GROWTH. The Biscayan company that manufactures cooling towers changes hands and activates a strategy of reorganization of activity and development in foreign markets.
Torraval Cooling, a Biscayan company specialized in the manufacture of cooling towers for industrial processes, has become part of the Italian family group Mita within a strategy focused on reinforcing growth in international markets through the development of specific solutions for applications. more complex.
Both companies manufacture cooling towers but have complementary product ranges and markets. Mita focuses its activity on the manufacture of standard cooling towers that it then adapts to each client and its annual production is close to 700 cells, while Torraval works on specific projects, with 70 cells per year.
On the other hand, while Mital focuses on more competitive products, the Biscayan company is strong in the production of larger towers and specifically those intended for industrial sectors such as steel, food or paper.
After the incorporation of Torraval, the Mita group will have a staff of around 65 people and a turnover close to 15 million euros, of which around 40% corresponds to exports.
The new group has a staff of about 65 people with sales of 15 million.
According to Torraval sources, its integration into the Mita group – made up of two companies – will involve the reorganization of its commercial and development activities in foreign markets. Furthermore, the purchase of Torraval is a long-term bet for the Italian group that allows it to expand its offer and open markets. The most immediate objective is to jointly undertake a broader deployment in South America. Precisely, the Biscayan manufacturer based in Zamudio has been especially active in recent years in its international expansion as a formula to confront the stagnation of the Spanish market. Specifically, its activity stands out in South America, as well as its deployment in North Africa, mainly in the refrigeration equipment and industrial development segment.
Torraval Cooling was born in 1967, the product of an initiative by Sener engineering and from then until the end of 2010 it was integrated into Alfa Laval, Marley and finally the American SPX.
The Basque firm is strong in the production of towers for paper and steel mills.
In December 2010, Torraval recovered its historic brand and was acquired by the group specialized in the restructuring of companies PHI, which began a restructuring process that resulted in cutting expenses, restructuring the workforce and conquering the markets. exteriors. With this strategy, Torraval’s know-how has been valued to become a benchmark in its market at an international level.
