Gefran SPA signs an agreement for the sale of the motion business division at the brazilian group WEG

Gefran S.p.A., following the resolution of the Board of Directors, has signed a framework agreement for the sale of the Drives Business to the Brazilian group WEG S.A. for a total value of 23 million euros.

The scope of the transaction consists of the subsidiaries Gefran Drives and Motion S.r.l., based in Gerenzano (Varese), Siei Areg Gmbh, based in Pleidelsheim (Germany), and the business units related to the Drive Business of the subsidiaries Gefran Siei Drives Technology Co Ltd., based in Shanghai (China) and Gefran India Private Ltd based in Pune (India).