Seves, the Florence-based leader in glass and composite insulators for electric power transmission, is to take over Austria“s Pcc Insulators, one of the main international producers of high voltage c…
Seves, the Florence-based leader in glass and composite insulators for electric power transmission, is to take over Austria“s Pcc Insulators, one of the main international producers of high voltage ceramic insulators used by power companies and rail operators. The deal was signed at the end of May 2007 between Seves and private equity fund the Riverside Company for Pcc Insulators. Seves will acquire Pcc outright once the antitrust authority grants its approval. The value of the operation was not revealed. Besides insulators, Seves makes glass blocks for construction. The firm employs 1,850 at twelve plants: three in Italy, one each in the Czech Republic, Germany and Brazil, and six in China, one of which is under construction. In 2006 the company had a turnover of EUR 291 million.