(Finance) – MON-FRIa company listed on Euronext Milan and active in the air heat exchangers sector, announced that on 5 April 2022 it was signed between the social partners the trade union agreement relating to the acquisition of the Italia Wanbao ACC (ACC) business unitof Mel (Belluno), for which the group had submitted a binding offer on 31 January 2022, then receiving the green light from MISE on 11 February.
The union agreement was one of the preconditions for the transfer of the business unit. The plan provides for the complete industrial reconversion of the production site in Mel (Belluno), which will be used for the production of heat exchangers – already made by LU-VE Group in the factory of Limana (Belluno), headquarters of the subsidiary SEST – through the installation of new production lines, and will be also transformed into an integrated logistics center.
L’overall investment forecast is equal to 8.95 million euros, which includes the purchase of the property. The operation provides the assumption by SEST of 150 workers currently employed in ACC. For 40 of them, the secondment from ACC to SEST has already taken place. For the remaining 110, the plan provides for hiring by 1 July 2024, in homogeneous brackets of 30 workers every semester (the last 20 hires foreseen in the first half of 2024).
“We are very satisfied with the achievement of this agreement – commented the COO Michele Faggioli – LU-VE Group is committed to the front line with the other social parties to ensure the business continuity of the Mel plant in the area. For LU-VE it is a strategic operation because it allows us to enrich our Group with already highly specialized skills and personnel, who will be able to continue to grow further in an expanding reality like ours “.