Nibe acquires Italian manufacturer Argoclima

SWEDEN/ITALY: Swedish heat pump producer Nibe has signed an agreement to get 50% of the shares in the Italian firm Argoclima SpA and the remaining stake in a five-yr interval.

Argoclima is a producer and distributor of heat pumps and air conditioning products, sold underneath the Argo brand name. Founded in 1929, it has around 200 workers and once-a-year revenue of close to €100m. The corporation has its own generation facility in Gallarate (Varese) with headquarters in Alfianello (Brescia).

“The acquisition will give us a noticeably stronger place in the swiftly escalating Italian market place for heat pumps by combining Argoclima’s present-day variety beneath the Argo brand name with the full heat pump selection bought beneath the Nibe manufacturer,” stated Nibe MD and CEO Gerteric Lindquist.

Argoclima will turn into section of the Nibe Climate Remedies small business spot.

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