Pietro Fiorentini announces that on 5 April 2019 it acquired the majority of the shares of TIV Valves srl, an Italian manufacturer of ball valves for the Oil & Gas Industry, based in Rescaldina (in the province of Milan).
We are very excited by this new acquisition, which satisfies our strategic and operational need to increasingly focus on the production of valves and will allow us to grow significantly in the next few years. Thanks to the new site in Rescaldina, we will also be able to expand our production range of valves to also include the largest diameters, and it will become our factory specialising in ball valve production.
Cristiano Nardi, Executive Chairman of Pietro Fiorentini.
I strongly believe that TIV found the right partner and we are thrilled to have the opportunity to work with such a world-leading prestigious group. It will be a smooth integration process that will ensure that our business culture remains flexible and service-oriented. Thanks to Pietro Fiorentini’s financial strengths and worldwide presence, TIV and Pietro Fiorentini will set the benchmark in the valve industry for the Oil & Gas market.”
Giovanni Capasso, CEO of TIV Valves.
TIV was established in 2010 and has extensive proven experience, as it is also an approved Vendor of Shell Global Solutions International B.V., with an Enterprise Frame Agreement in place since 2011. TIV has a new production facility in Rescaldina (MI), which was completed in 2018, in the Italian valve district north of Milan.
Mr. Giovanni Capasso, one of the original founders, will remain a minority shareholder and the CEO of TIV.
This acquisition will enable Pietro Fiorentini to expand its market share in the valve business by leveraging TIV’s production facility, advanced valve design and long-term agreement with major Oil & Gas end users, with the aim of becoming an internationally established partner for ball valves, to ensure complete customer satisfaction along with strong financial stability, and outstanding quality and performance.
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