Velan Inc. Acquires 70% of ABV Energy S.p.A., an Italian Valve Manufacturer
Monday, May 2, 2011
Velan Inc. has
acquired 70% ownership of ABV Energy S.p.A., an Italian manufacturer of
engineered valves, actuators and control systems supplied to energy markets.
The Marianetti family will retain 30% ownership and Luca Marianetti will
continue to be the President and CEO of the company, which will now be named
Velan ABV S.p.A. Terms of the transaction, which is being funded out of the
cash resources of Velan, were not disclosed. More…
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