Carraro: sale of 100% of O&K Antriebstechnik to Bonfiglioli finalised

DISCLAIMER

The contents of this section are updated as at August 6th, 2021. Please note that, as a result of the delisting of the shares of Carraro S.p.A. from the Electronic Stock Market organized and managed by Borsa Italiana S.p.A., pursuant to the resolution n. n. 8788 dated July 29th, 2021 and effective from August 6th, 2021 this section has not been subject to further updates. Therefore, the information, the data, the documents and, generally, the contents of this website refer to and are updated as at the date of August 6th, 2021

On November 20, Carraro SpA and Bonfiglioli Riduttori SpA completed the sale of O&K Antriebstechnik owned by Carraro Group, started in November 2015 (with a first sale equal to 55% of the share capital). The value of the transaction of the remaining shares in Bonfiglioli took place at a total price of 17 million Euros.

“In a particularly dynamic market context, which sees us engaged in our main sectors of activity in every area of the world, we took the opportunity to accelerate the sale of the remaining shares of O&K Antriebstechnik with a view to further focus on our core business. – said Enrico Carraro, Group Chairman – The validity of the process initiated three years ago together with a serious partner such as Bonfiglioli Group is also confirmed by the excellent results of the German company, which has found its natural business context”.

“Also thanks to this operation, we will be able to give new impetus to investments in innovation at both the R&D and the production process level, in line with what already foreseen in our Strategic Plan”, concluded Enrico Carraro

“We are very satisfied with the progress made with Carraro in recent years and this has led us, in advance of the deadline, to finalise the acquisition of 100% of O&K Antriebstechnik GmbH. – said Sonia Bonfiglioli, Chairman of Bonfiglioli Riduttori SpA – The strategic intention to leverage the excellent market complementarity between Bonfiglioli and O&K and the consistency of the positioning of the two brands, i.e. the basis of the reasons for the interest of Bonfiglioli towards the German company, have seen a very positive feedback from the market as well as triggering decisively virtuous operational synergies”.