India, June 26 -- Austrian technology group ANDRITZ AG (ADRZF.PK) Thursday announced that it has signed an agreement to acquire Salico Group, based in Italy and Spain. The deal includes its units in the UK, USA, and India. The financial terms of the transaction were not disclosed.
The acquisition is expected to close within the next few weeks.
Salico, founded in 1978, manufactures advanced finishing equipment for metal flat strip processing. The company with locations in five countries and a manufacturing base in and around Molteno, Italy records annual revenues in the range of 100 million euros.
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ANDRITZ said the deal marks an important step in its stra...