Italian industrial glass producer, Vetroarredo, has acquired Dielve, an industry leader in the manufacture of glass insulators. Dielve began operations in 1986 as a supplier to Enel and has a turnover…
Italian industrial glass producer, Vetroarredo, has acquired Dielve, an industry leader in the manufacture of glass insulators. Dielve began operations in 1986 as a supplier to Enel and has a turnover of ITL 39 billion and 110 employees. It has a plant in the province of Avellino, southern Italy, and is among the three largest producers of glass insulators for medium and high-voltage lines. In 2000 Dielve formed Tianjin Dielve Insulators Co. Ltd., a joint venture in Tianjin China, which is expected to begin production in July. In a statement, Vetroarredo said “Thanks to the acquisition of Dielve, Vetroarredo will diversify its activities into the production of glass insulators and in addition to the anticipated synergies with our core business, it puts us in a market sector with interesting prospects for growth.” With a turnover of ITL 90 billion, 440 employees and three plants, two in Italy and one in the Czech Republic, Vetroarredo expects to reach a consolidated turnover of about ITL140 billion this year with this acquisition. Vetrarredo is currently specialized in the production of glass blocks for interior design, traditional glass blocks for the construction industry, glass for illumination and specialized glass.