17 December 2018
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 | LU-VE is to acquire Alfa Laval’s commercial/industrial air heat exchanger business and says the deal will put the company in the top three global operators in the sector. For the 12 months ending June 2018, Alfa Laval Air Heat Exchangers Division had revenues of €97.8 million. |
AL Air, based near Vicenza, owns brand including Fincoil and Helpman and manufactures in Italy, Finland and India. The deal will include the transfer of about 400 employees mainly based at the production sites.
LU-VE president Iginio Liberali said: “This acquisition fits perfectly into the strategic design of growth and qualification of the LU-VE Group. Thanks to it, the group is now amongst the three largest global operators in the sector. This acquisition reinforces our ability to offer services and components of high quality and reliability (performances certified by Eurovent).
“We are strengthening our avant-garde position in the advancement of our sector in terms of research and development synergies, coverage of international markets, use of cutting-edge products and manufacturing technologies in the commercial refrigeration, industrial, air conditioning and power generation sectors.
“This acquisition also has the sense of maintaining in our country the research and manufacturing of the most advanced products, in terms of the application of 'green' refrigerants, energy savings and respect for the environment.”
Tom Erixon, president and CEO of the Alfa Laval Group, said: “This business has made big improvements the last two years both in terms of growth and profitability. However we came to the conclusion it would have even better opportunities to continue developing under the ownership of the LU-VE Group. LU-VE is a solid player that is driving front-end technologies within HVAC and refrigeration. The air heat exchangers will be a valuable complement to their current portfolio.”
LU-VE president Iginio Liberali said: “This acquisition fits perfectly into the strategic design of growth and qualification of the LU-VE Group. Thanks to it, the group is now amongst the three largest global operators in the sector. This acquisition reinforces our ability to offer services and components of high quality and reliability (performances certified by Eurovent).
“We are strengthening our avant-garde position in the advancement of our sector in terms of research and development synergies, coverage of international markets, use of cutting-edge products and manufacturing technologies in the commercial refrigeration, industrial, air conditioning and power generation sectors.
“This acquisition also has the sense of maintaining in our country the research and manufacturing of the most advanced products, in terms of the application of 'green' refrigerants, energy savings and respect for the environment.”
Tom Erixon, president and CEO of the Alfa Laval Group, said: “This business has made big improvements the last two years both in terms of growth and profitability. However we came to the conclusion it would have even better opportunities to continue developing under the ownership of the LU-VE Group. LU-VE is a solid player that is driving front-end technologies within HVAC and refrigeration. The air heat exchangers will be a valuable complement to their current portfolio.”
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