USA: LU-VE GROUP BUYS ZYKLUS HEAT TRANSFER INC.
Source: SME - Manufacturing & EngineeringAuthor: Brett BruneDate: August 2018About ITA ChicagoAs part of the Italian Trade Agency's Chicago Office activities to promote the awareness of th Italian solution providers in the US marketplace, thanks to its partnership with SME, the Agency will promote these news flashes in its next edition Volume XII of its magazine "Machines Italia". The magazine, Machines Italia, is part of the Agency's promotional campaign "Machines Italia" which has been conducted now well over a decade, in partnership with leading Italian machinery manufacturers associations to increase the exposure of Italy's offering of the latest in machinery and technology available for US companies.This edition will be available this Autumn both in print with Manufacturing & Engineering Magazine and online via its portal, www.machinesitalia.org/magazine.LU-VE S.A. (Uboldo, Italy) recently bought Zyklus Heat Transfer Inc.(Jacksonville, TX), which makes and commercializes heat exchanger coils. LU-VE is the holding company of LU-VE Group, one of the main European producers of heat exchangers and ventilated products for the refrigeration, air conditioning and industrial process cooling markets. It has production facilities in Europe, Russia, China and India. Zyklus specializes in manufacturing heat exchangers for commercial refrigeration, refrigerated transport and air conditioning. The acquisition allows LU-VE Group to make use of an existing production facility in the U.S. as a platform to expand its own business in North American markets, the company said. LU-VE Group purchased the firm for €8.6 million from the former sole shareholder and president, Zachary Riddlesperger, who will remains as vice president of operations. “The acquisition of Zyklus is another important step in the strategy of internationalization” of LU-VE Group, said LU-VE President Iginio Liberali in prepared remarks.Website: www.luvegroup.com/en/ (ICE CHICAGO)