Valmont Acquires Majority Ownership Stake In Convert Italia - Quick Facts

(RTTNews) - Valmont Industries, Inc. (VMI) announced that it has acquired a majority ownership stake in Convert Italia SpA, a designer and provider of engineered solar tracker solutions. The company expects the acquisition to be slightly EPS accretive in fiscal 2018, and expects EPS accretion of approximately $0.10 in fiscal 2019.

Headquartered in Rome, Italy, with offices in Brazil and Argentina, Convert Italia has successfully completed solar tracker projects in Europe, Latin America, and Africa. Their single access tracker product, the TRJ, was designed, developed, and patented by the Convert Italia team.