Amsterdam – Ariston Thermo announced the acquisition of ATAG Heating, a major player in the Benelux heating market. Founded in 1948, ATAG is based in the Netherlands (Lichtenvoorde), employing 170 people with a production plant devoted both to residential and commercial products. In 2013 ATAG generated net revenues of around 53 million euros, with an EBITDA Adjusted of 8,4 million euros. The company serves most of the European countries, being a major player in the Benelux heating market with distinctive positioning, thanks to a well-known brand and a consistent product range focused on the high-end market. ATAG is strongly focused on innovation with a highly specialized R&D team and a product offer characterized by advanced technology and high efficiency standards. “Through this acquisition we continue to pursue our development strategy based on internal and external growth both in mature markets and in fast-developing countries” commented Paolo Merloni, Executive Chairman of Ariston Thermo. (9colonne)
