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Landi Renzo SpA's Subsidiary Acquires Business Branch

Monday, 8 Apr 2013 09:38am EDT 

Landi Renzo SpA announced that through SAFE SpA, it has closed the acquisition of the business branch producing gas-processing compressors useful for multiple applications from Agave Srl (formerly SAFE srl), in liquidation and in composition with creditors. Safe SpA started its operations on July 18, 2012 under a business branch lease. The consideration paid amounted to approximately EUR 3.5 million, compared to initial estimates of WUE 10 million (EUR 8 million for inventories and EUR 2 million for other assets, and including also liabilities amounting to EUR 500,000). 

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