Riello Attracts Chinese Interest, but Ariston Also in the Running

(Alliance News) - In Italy, the name Riello is synonymous with boilers and burners. Founded in Legnago in 1922, the company has grown over the years, acquiring Beretta in 2005, one of Italy's leading innovation hubs in the sector.

As reported by Il Sole 24 Ore, competition has intensified in recent years, fueled by increasingly significant investments in technology, sensors, and the Internet of Things: consider, for example, the EUR500 million that Ariston plans to invest in Italy between 2022 and 2028.

Riello, now owned by the American group Carrier--following its transfer from United Technologies--has been put up for sale after Carrier's acquisition of the German company Viessmann. Binding offers are expected by mid-December, and the Ministry of Enterprises and Made in Italy (MIMIT) has scheduled a meeting for December 18, while unions have voiced concerns.

The group, which generates around EUR430 million in revenue--EUR200 million less than in 2015--still maintains positive profit margins.

According to Il Sole 24 Ore, six expressions of interest have reached Bank of America: among them, Chinese giants such as Haier and Midea, as well as Italian groups like Ariston and Ferroli.

Interest is high because Riello's technology and network represent a strategic asset in a transforming sector, crucial for industry, housing, and sensitive fields such as agriculture, pharmaceuticals, and defense. The sale could fall under the scope of Golden Power regulations.

The stakes are therefore higher than they may appear: this concerns not only the future of Riello, but also the ability of Italian manufacturing to strengthen itself in an increasingly competitive global market.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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