Start of production of compressors to treat gas
July 18 2012 - 1:30PM
Italian Regulatory (Text)
Press Release
18 July 2012
Landi Renzo: business lease of SAFE, a company leader in the field
of components to manufacture Compressed Natural Gas refueling
stations, has begun.
Cavriago (Reggio Emilia), 18 July 2012 Today Landi Renzo, through
its NewCo SAFE S.p.A., begins the production activity of gas
processing compressors useful for a wide range of applications,
under the SAFE brand. As a matter of fact the Court of Bologna has
authorized Landi Renzo to the temporary lease of the business
branch from Agave S.r.l. (formerly SAFE S.r.l.), which is a company
in liquidation and in composition with creditors. The final
acquisition of the business branch remains subject to approval of
the composition plan which Agave proposed to its creditors. Through
the trademark SAFE, Agave has been operating for more than 35 years
in the production of compressors for gas processing for a wide
range of applications, also managing marketing, distribution and
support services activities; its main business areas are CNG
(natural gas refuelling stations for vehicles), Oil and Gas
(compressors and auxiliary systems for the processing of gas, from
extraction to distribution), plants for biomethane, hydrogen and
Liquified Natural Gas processing. The transaction, aimed at
preserving and relaunching the business activity of the distressed
company, even preventing some job cuts, is part of the Landi
Renzo's strategy which considers the possibility of expanding the
product portfolio with the know-how in the production of "CNG
stations" as a competitive factor. Landi Renzo believes that, in
terms of industrial integration strategy, refuelling stations could
have a development in line with the use of natural gas as a fuel or
even be a driver to boost it. For the purposes of this transaction
Landi Renzo is supported by Mediobanca S.p.A. in the role of
financial advisor and by Studio Legale Bassi & Terzi, Studio
Oliva and by Analisi S.p.A. respectively as legal, tax and
accounting consultants.
Landi Renzo is a world leader in the sector of components and LPG
and CNG fuel systems for motor vehicles. Based in Cavriago (Reggio
Emilia) and with more than 50 years' experience in the sector,
Landi Renzo is distinguished by the sustained growth of its
revenues and the extent of its international operations, with a
presence in over 50 countries and exports accounting for about 70%
of the Company's sales. Landi Renzo S.p.A. has been listed in the
STAR segment of Borsa Italiana MTA market since June 2007.
This press release is a translation. The Italian version
prevails
1 www.landi.it
Press Release
18 July 2012
For further information: Landi Renzo Pierpaolo Marziali M&A and
Investor Relations Officer ir@landi.it Corrado Storchi Public
Affair Manager cstorchi@landi.it Tel. +39 0522.94.33 SEC Relazioni
Pubbliche e Istituzionali Marco Fraquelli fraquelli@secrp.it
Daniele Pinosa pinosa@secrp.it Tel. +39 02.624999.1
IR Top Consulting Maria Antonietta Pireddu Tel. +39 02
45.47.38.84/3 ir@irtop.com
2 www.landi.it
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