Elica sells Gutmann

Elica SpA announced the sale of Gutmann in a statement on the Milan stock exchange dated August 28.

07.09.2017 According to the statement, the Italian company transferred the 100% of the capital of the German company Exklusiv-Hauben Gutmann to Manuel Fernández Salgado, the former managing director of the subsidiary.

As the statement read, Gutmann recorded a performance not in line with the company’s consolidated profitability, and the business has been sold in order to preserve the value of the group’s shareholders and to focus the company’s investments and efforts on the most profitable part of the company. The growth of the group’s markets in the Germanic area will continue, focusing exclusively on the Elica brand.

Acquired by Elica in 2008, Gutmann manufactures cooker hoods, especially high-end, at the Mühlacker (Germany) factory, Taylor Made Hoods. Following the completion of the transaction, the company expects an improvement in the 2017-2019 targets announced to the market on May 15, 2017, both in terms of marginal growth over the three-year period and return on net invested capital.

* For further information: www.elica.it