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An announcement from Elica S.p.A. ( (IT:ELC) ) is now available.
Elica S.p.A. has received authorization from Chinese authorities to acquire the remaining 0.56% of shares in its Chinese subsidiary, Elica Home Appliances (Zhejiang) Co., LTD, from FUJI Industrial Co., LTD, thus gaining full ownership. This acquisition is part of Elica’s strategy to transform the subsidiary into a strategic hub, potentially enhancing its operational capabilities and market positioning in China.
The most recent analyst rating on (IT:ELC) stock is a Buy with a EUR1.80 price target. To see the full list of analyst forecasts on Elica S.p.A. stock, see the IT:ELC Stock Forecast page.
More about Elica S.p.A.
Elica S.p.A. is an Italian company renowned for its design and production of cooking appliances, with a strong global presence in kitchen ventilation systems. It serves as a European leader in electric motors for household appliances and heating boilers, employing approximately 2,600 people across its headquarters in Fabriano and seven plants in Italy, Poland, Mexico, and China.
Average Trading Volume: 54,486
Technical Sentiment Signal: Sell
Current Market Cap: €88.65M
Find detailed analytics on ELC stock on TipRanks’ Stock Analysis page.