Ponte di Nanto, 23/07/2010

KSB AKTIENGESELLSCHAFT, a world leader in pump and valve market, and ITACO S.r.l. and the controlled company REEL S.r.l., company operating in the field of high-technology electric motors and drives, announce today the integration of REEL/ITACO within the KSB Group.

After many years of a profitable cooperation with the aim to develop the integration of high-efficiency speed-controlled motors within KSB pump and valve systems, KSB proposed to the Bertotto family (the only former owner of Itaco S.r.l.) to enter in the company with majority shares.

The development of high-efficiency electric drives as well as medium/high power electronic and electric systems for alternative energies (such as hydro power, wind power, solar power) – sectors where Itaco has already started to operate with its brand AEOLICA - , are some of the aims for the future.

It's important to consider that all the main activities, above all research ad development, of the new company (Reel and Itaco will become one company with the name Reel) will be strongly increased in the geographic area of Nanto, South of Vicenza. Only future mass productions could be hived off in geographic areas with cheap labour.

Mr. Bertotto will continue to manage the new company in order to guarantee the achievement of the agreed aims in short times thanks to the new and important resources.

Short notes about the companies

Reel and Itaco, both founded in 1984, count at the moment 44 employees and an annual turnover of about 10 million Euros.

These companies are located in Ponte di Nanto and produce electric drives with a power from 100W up to 1,5MW, electric motors with SSP technology and electronic industrial automation systems for many fields.

( www.reel.it , www.itaco.it )

KSB Group was founded in Frankenthal (Germany) in 1871 and has been listed on the stock exchange since 1895. KSB counts 30 factories in 19 states all over the world. The workforce amounts to 14.000 employees and the annual sales turnover to 1900 million Euros. KSB produces pumps, valves and automation and monitoring systems including a range of products from the pumps for domestic applications up to high-power power station boiler feed units.

( www.ksb.com )