FAET Srl acquires stake in Politubes Srl
The CEOs of FAET and Politubes, Gabriele Guidi and Federico Penzo, expressed satisfaction with the agreement.
Image for illustration purposes.
Italy, Milan: FAET Srl, specialized in the transformation of insulating materials for the production of electric motors, transformers, and components for electric vehicles (EV), has announced the acquisition of a 30% stake in Politubes Srl. Politubes is a Lombard company specialized in the design and production of spiral tubes and insulating caps for the electromechanical and automotive (EV & HEV) sectors.
The acquisition will allow FAET to expand its product range with a series of products for both traditional markets and those experiencing strong growth, such as the EV market. Meanwhile, Politubes could benefit from a synergistic industrial partner for product penetration and research and development of new solutions. The evident economies of scale generated throughout the supply chain will enable the two companies to establish the European hub for electrical insulation.
In a joint statement, the CEOs of FAET and Politubes, Gabriele Guidi and Federico Penzo, expressed satisfaction with the agreement. They emphasized their collaboration and expressed confidence that their market share in Europe will be enhanced by the partnership.
Source: FAET Srl
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