29/11/17

EXPANSION AUTHORIZED FOR THE SEST LU-VE POLSKA PLANT

Uboldo, 28 November 2017 – The Polish authorities have issued definitive authorization for the project to expand the production facility of the subsidiary company SEST LU-VE Polska (Gliwice, Poland). This authorization constituted a suspensive condition for the realization of the investment approved by the LU-VE Board of Directors on October 26, 2017. As already made known through a press release of that date, the total investment plan (to be completed by 2021) has an estimated value of €36 million. It will be located on an area of approximately 60,000 sqm (acquired in May for €2.4 million) in the business park of Gliwice and will involve the construction of a new production facility of 20,000 sqm (covered), accounting for 50% of the total investment, and the acquisition of plant and machinery.