Gefran has concluded the first phase of the sale of the Drives Business to the Brazilian group WEG SA for a value of € 17.9 million out of a total agreement amounting to € 23 million. In fact, the shares in the Italian company Gefran Drives and Motion Srl were sold to WEG SA
At the same time, Gefran signed a three-month license agreement for the use of the Gefran brand, limited to the products involved in the sale, in order to allow the buyer to continue production without interruption. Subsequently, Siei Areg Gmbh, whose deed of sale is scheduled for 4 October 2022, and the company branches of the Drives Business spun off from Gefran Siei Drives Technology Co Ltd and Gefran India Private Ltd. will be transferred. total value of the transaction did not change with respect to the press release issued on 1 August 2022.