F.H. Bertling Logistics Italy

Rome, april 20th, 2011

FINAVAL HOLDING AND BERTLING LOGISTICS COMPLETE THE ANNOUNCED JOINT VENTURE

Finaval Holding SpA announces that it has completed the joint venture operation with the Bertling group. The joint venture, announced in late December 2010, concluded today in F.H. Bertling Logistics Italy, 50% owned by Holding Finaval and 50% by F.H. Bertling International Gmbh. 
The operation was carried out by means of the following activities: 
•ingress of F.H. Bertling International Gmbh in the share capital of Finaval Offshore, an already operational subsidiary of Finaval Holding in project forwarding, renamed as F.H. Bertling Logistics Italy S.r.l.
•capital increase from the two shareholders for a total of 250 thousand Euro aimed at ensuring the necessary financial resources while awaiting for company development. 

A meeting of the shareholders elected Giuseppe Elio Monticelli, President and CEO, currently CEO of Finaval Offshore and appointed by the Finaval Holding Group, and Bernd Wiesch, Managing Director, appointed by the Bertling Group, as the new Board of Directors of the Company.
Both partners are well recognized as key market operators in the project forwarding market and will both contribute to the future success of F.H. Bertling Logistics Italy. Finaval’s technical strength and in-depth knowledge of the Italian petrochemical, power and offshore sectors and leading Italian EPC contractors will be combined with the worldwide presence of Bertling Logistics.
The newly established company will benefit from Bertling’s global corporate setup and identity, its globally uniform IT and HSSE standards, as well as from its well trained and experienced workforce.

The collaboration between the two groups has already yielded its first operational and commercial results, in particular with the entrustment from Maire Tecnimont of the project "Tobolsk" currently under implementation. The administration and coordination of this project is managed by F.H. Bertling Logistics Italy in collaboration with the German and Russian subsidiaries of the Bertling group.

 

 Press Release

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