Modena (MO), 08 aprile 2022: TECNORD Srl – established in 1981 in Modena (Italy), a leader in the design and production of hydraulic valves, electronics and electro-hydraulic control systems, with a work force of 250 employees, an output of over 2.5 million finished products and 58 million/Euro sales reached in the year 2021 – is proud to announce that FINREL SpA, completed the acquisition from Delta Power Company Rockford (Illinois – USA) of 51% of the share capital of Tecnord Srl.
Finrel SpA, Casappa family holding owning Casappa SpA and Ikron srl, a global leader in the construction of pumps, motors, filters and hydraulic systems based in Parma (Italy), employs a workforce of more than 900 people, manufacturing in 2021 in its Italian and Chinese plants more than 1 milion finished products, exceeding 163 million/Euro of consolidated annual sales.
“We are excited about the opportunity to strengthen our technology portfolio by significantly bolsering our position in an increasingly changing global market”, said Carlo Becchi, President and CEO of Tecnord srl. “This is an exciting new chapter for our companies and our people: by combining the knowledge and experience of all businesses, our current and future customers will benefit from unmatched expertise”.
“Acquiring Tecnord Srl is a natural step to further expand our position in the fast-growing electro-hydraulic market”, said Luciano Casappa, President of Finrel SPA. “In the future, we will offer to our customers a wider range of integrated and technological solutions for both the mobile and industrial market through Casappa, Ikron and Tecnord brands. We welcome the talented Tecnord team which has built a strong and highly technological brand. We look forward to working together to integrate ideas and expertise, enhancing the best of each Company”.
The President and CEO
Ing. Carlo Becchi