Canada-based Velan Inc has acquired 70% ownership of ABV Energy S.p.A., an Italian manufacturer of engineered valves, actuators and control systems supplied to energy markets. The Marianetti family will retain 30% ownership and Luca Marianetti will continue to be the President and CEO of the company, which will now be named Velan ABV S.p.A. Terms of the transaction, which is being funded out of the cash resources of Velan, were not disclosed.
ABV manufactures valves to API6D and 6A standards and the product line includes pipeline ball valves, emergency shut-down valves, high integrity pressure protection systems (HIPPS), subsea ball valves, control ball valves, diverter valves, modular double block and bleed valves, slab gate valves, choke valves, and nozzle check valves. The company also manufactures its own line of pneumatic and hydraulic actuators, including gas-over-oil actuators. ABV is currently expanding its manufacturing facilities by an additional 5000 sq/m. This expansion also includes an investment to add machinery as well as other equipment to improve the layout and production flow of the assembly and test facility.
