(Alliance News) - Maire Tecnimont Spa announced Wednesday that KT - Kinetics Technology, a subsidiary part of the Integrated E&C Solutions business unit that also operates in support of the Sustainable Technology Solutions business unit, has signed a binding agreement to acquire 100 percent of APS Evolution Srl, the holding company that controls APS Designing Energy Srl and KTI Poland SA.

APS Designing Energy and KTI Poland are two engineering companies with strong international reputations in the execution of projects for the treatment of natural resources, in petrochemicals with a specific focus on innovative rubbers, as well as in green chemistry, particularly in biofuels and bioplastics.

The agreement provides for a total purchase price of about EUR7.7 million, of which about EUR1.2 million is to be paid on the date of closing of the deal and EUR6.5 million in four tranches within five years of closing.

Alessandro Bernini, CEO of Maire Tecnimont, commented, "This acquisition marks an important step in further strengthening Maire Group's expertise and capabilities in integrated E&C solutions, expanding its operational footprint in Eastern Europe. This engineering excellence perfectly complements Maire Group's value proposition in delivering large complex projects worldwide."

Maire Tecnimont rises 2.5 percent to EUR7.60 per share.

By Claudia Cavaliere, Alliance News reporter

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