Landi Renzo leaps by 6,5% in Piazza Affari after the announcement of the strategic agreement for the merger between the subsidiary Safe and Clean Energy Compression. In detail, the company listed in the Star segment announced the signing of the agreement for an industrial project to merge Safe, active in the production and installation of gas treatment compressors for multiple applications, with Clean Energy Compression (Cec), controlled by the American Clean Energy Fuels and specialized in compressed natural gas refueling systems including compressors, distributors, gas control and storage systems for various types of transport vehicles.
The agreement provides for the establishment of a newco in which 100% of Safe and 100% of Clean Energy Compression will be conferred, which will kick off the birth of the second group in the sector at a global level, with a focus on compressors for filling stations methane for automotive and Renewable Natural Gas globally, with a market share in Europe and the United States of over 15%.
With operational headquarters in San Giovanni in Persiceto, in the province of Bologna, the newco will be majority-owned by Landi Renzo, with a stake of 51%, and the remaining 49% will be owned by Clean Energy Fuels. The expected turnover for the end of 2018 is equal to approximately 58 million, with a Cagr to 2022 equal to +17% (turnover estimated at approximately 107 million euros).
Over the period of the plan (2018-2022), the distribution of dividends is envisaged for a total amount of approximately 35 million euro.
