The industrial Group RETTIG ICC has decided to invest in EMMETI GROUP by acquiring A CONTROLLING SHARE in Emmeti Group.
RETTIG ICC –Indoor Climate Control is part of the Finnish group RETTIG Ltd, and is the European leader in the production and distribution of radiators in steel, with a growing presence in the markets of radiant systems, valves and controls for HVAC systems.
The acquisition of Emmeti will support the strategic plans for growth and innovation of Rettig ICC, allowing entry into new geographic markets and the transfer of new technologies from Emmeti to Rettig ICC, by widening its offer of traditional products. The Emmeti Group is one of the world leaders in environmental comfort technologies, and the synergy between the two organisations is excellent.
Through a thorough process of analysis, RETTIG ICC has recognized the ability of EMMETI GROUP to offer its services on the world market, being both competitive and innovative, evidenced that even in a tough world economic crisis they have thrived. RETTIG ICC looks to embrace the EMMETI GROUP technology of advanced componentery and systems that are increasingly being used today; primarily in the modern engineering field of thermohydraulics and air conditioning.
The acquisition will be fully financed through internal debt backed by the financial capacities of the Rettig Group. The closing of the agreement is expected by the end of 2015.
With regards to EMMETI UK LTD, we will continue to operate as before, as part of the EMMETI GROUP. The board of directors and reporting structure remains in place. If you have any questions, please contact Jon Arntsen at EMMETI UK Ltd.