Recently, KEDA signed a “joint stock purchase and shareholder agreement” with Italy WITALY SRL. The two sides come to an agreement that KEDA will buy 60% shares of I.C.F. & WELKO S.P.A. (Welko) which shareholding by Witaly for about 16,800,000 Euro. After the transaction, KEDA will become the controlling shareholder of Welko. In the future, KEDA will continue to acquire the remaining 40% of Welko's shares to realize wholly-controlled if both sides meet the terms of the agreement.
Welko is a leading manufacturer in the field of highly refined manufacturing in Italy, which specializes in the design, manufacture, sales and installation of factories, machinery and equipment in ceramics and other industries. Welko has established a good brand reputation in Italy, Europe, Africa, the Middle East, North America and accumulated a wide range of customer groups. The business of Welko is highly aligned with KEDA's core business in building materials machinery, and the acquisition of Welko's shares is in line with the company's global development strategy for the European market.
