COMPANY NEWS New partner, new corporate structure for SELI Nov 2012
SELI News Release
- With a current order book of more than €900 million, and in accordance with the company's focus on an international strategy that aims at developing new foreign markets through local offices and collaboration, SELI Spa has taken on a new partner, Tollian of China.
New corporate structure (in percentages)
- For its 29.84% share of the business, the new partner provides a capital injection of €30 million to bolster the financial status of the Italian TBM manufacturer and tunnelling contractor.
- "Tollian gives SELI strong added value as it reinforces our presence in China, which is certainly a market for growth," explained SELI's Managing Director Ing Remo Grandori. "At the same time, the company offers excellent possibilities for other areas around the world including Africa, for example, where China is concentrating efforts to develop public infrastructure."
- According to SELI managers, the change will increase TBM construction for the Chinese and wider Asian market, which has an estimated value of €40-50 million annually.
- In the meantime SELI continues to expand in the Indian market via its industrial agreement with another strategic partner, Coastal, a leader in infrastructure construction in India.
- The new corporate structure divides SELI among four partners: Grandori and SELI Management with 30.6%, Tollian of China with 29.84%, Imi Fondi Chiusi Sgr with 22.91%, and Coastal of India with 17.9%.
SELI and Coastal form subcontinent alliance - TunnelTalk, March 2011
Goals reached in Hong Kong and Rome - TunnelTalk, March 2012
SELI to complete troubled TBM drive in China - TunnelTalk, June 2011
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