06.02.2007

Locatelli and CTE

CTE and Locatelli, the Italian crane maker, are in the final stages of concluding a deal which will see CTE take over the crane maker.

Possibly by purchasing a majority interest and retaining some outside shareholders as it did with SOL.ge which is now the parent of Effer and Bizzocchi, but also consolidated into CTE’s accounts.

Locatelli was founded in 1954 by Enzo Locatelli and became a joint stock company in 1967. Locatelli still runs the business but is at an age where he is considering retirement, however his daughter Claudia has no real interest in taking over.
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Eng Locatelli

The company has also had a very strong year particularly with export sales, and is finding it difficult to keep pace with and fund the growth.

An announcement on the deal is expected shortly, in the meantime there is an unwillingness for anyone to make any statements.

Maria Mortarino has left the company and Eng Locatelli is expected to remain with the business for a transition period only. It is highly likely therefore that new external managers will be brought in to manage the business.
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A Locatelli ATC20 on test at the Mapello plant

We will update this news as soon as the official announcement is made.