FRANCHETTI S.P.A. (Alliance News) - Franchetti Spa announced Wednesday that it has finalized the acquisition of 67 percent of the share capital of Gallo Technics Srl.
Gallo Technics is a newly formed company headquartered in Padua that brings together the historical clientele, experience and engineering tradition of more than 50 years in the industry of engineers Cesare and Sebastiano Gallo, and their father Domenico before them, who before the establishment of Gallo Technics practiced as individual professionals.
"With this acquisition, Franchetti consolidates the collaborative relationship with the Gallo engineers, strengthens, with a strategic presence in the territory, the link with the Faculty of Engineering of the University of Padua, which will facilitate the procurement of resources, and enriches the group with complementary skills in the field of civil engineering. In fact, Gallo's engineers boast specific expertise in the study of vibrations, analysis of dynamic effects on existing structures, and implementation of proprietary algorithms for building information modeling that will synergistically complement Franchetti's offerings," the company explained in a note.
Franchetti on Wednesday closed flat at EUR3.18 per share.
By Claudia Cavaliere, Alliance News reporter
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