€30m loan to boost production at Lu-Ve plants

ITALY: Lu-Ve has negotiated a €30m loan with Deutsche Bank aimed at further strengthening its production processes at plants in Italy, Poland and the USA.

The medium-term loan, which will expire in 2028, is intended to give further impetus to Lu-Ve’s production in support of the growth in demand through the strategic expansion of plants in Mel (Italy), Gliwice (Poland) and Jacksonville (USA). 

In particular, the P2 plant in Gliwice in Poland will be expanded to take advantage of the growth opportunities in European markets. At the same time, as already announced in the acquisition phase last April, the Group will invest resources for the complete industrial reconversion of the activities of the Italia Wanbao ACC business unit, in Mel (Belluno), in order to expand the production of static heat exchangers for refrigerated cabinets, air conditioning and chillers. The plant will also act as a production and logistics hub for heat pumps. 

Finally, the Group will invest new resources to strengthen the technical and production structure of the Jacksonville plant in Texas, with the aim of consolidating its presence on the American market, which the company sees as currently representing the area with the best growth prospects.