ITALY: Air conditioning and refrigeration controls manufacturer Carel is said to be planning to list its shares on the Italian stock market.
According to Reuters, Francesco Nalini, group MD of the Padua-based company, has confirmed their intention to list on the Milan bourse by the end of June.
Founded in 1973, Carel has remained a family-owned business. It achieved a turnover of €231m in 2016, a 13,5% increase on the previous year. Exports account for around 80% of Carel’s sales, with operations in the Americas (North, Central and South), Asia Pacific, Africa and Europe. It boasts 20 fully-owned subsidiaries and seven production sites, in addition to partners and distributors in a further 75 countries.