The recent takeover of Benevelli Electric Powertrain Solutions and Sitem Motori Elettrici has been accomplished by Comer Industries, company listed at the Euronext Growth Milan segment of the Italian Stock Exchange and leader of a world Group in the design and production of advanced engineering systems and mechatronic solutions for power transmission.
What will happen? Benevelli and Sitem merge into e-comer, the new green division of Comer Industries dedicated to the market of motors and transmissions for electric vehicles. It is a NewCo into which the business branches of Benevelli Electric Powertrain Solutions and Sitem Motori Elettrici have resulted. Besides, electric motors are precisely the sector where Comer Industries is going to focus its growth and innovation course, enriching the product range offered to the market. The operation implied a cash-out at the closing date amounting to 50 million Euros.
Going back to a little over one year, it is clear that Comer’s strategy goes on: on December 1st the takeover operation of Walterscheid Powertrain Group ended, with the aim of offering more and more global services to customers, glancing at a sustainable future.
Today enthusiasm is greater than ever: «A year of growth, achievements and satisfactions. The wish to Comer Industries and all the companies of the Group is continuing towards this direction because only growing and improving every day we will make our future the longest and most prosperous possible, like General Sherman” as stated by the President & CEO Matteo Storchi.