Vemer-Siber Group S.p.A. signed a deal to acquire the Italian companies of Signal Lux Group, making Vemer-Siber into one of the largest global players in the field of electrical components for white goods and small appliances. Vemer-Siber acquired 100% of the shares of Signal Lux Italian companies Signal Lux MDS S.r.l. and Signal Lux Italia S.p.A. The total turnover of these companies was 21 million euros (approx. US$28 million) in 2006.
Signal Lux, with plants in Italy, France, and Tunisia, is a European leader in signal lights and has large market shares in rocker and push button switches.
The agreement includes a call option for Vemer-Siber to acquire 100% of the shares of Signal Lux France S.a.S, which is currently the subject of a governmental examination procedure.
"With Signal Lux we become one of main worldwide player, strengthening our geographical coverage and further widening our product range," said Vemer-Siber CEO Andrea Mattarelli.
to Daily News