ASKOLL Holding S.r.l and EMERSON after having obtained the approval of the competent antitrust Authorities, have reached a final agreement to transfer the ownership of 100% of the shares of EMERSON APPLIANCE MOTORS EUROPE  – E.A.M.E. - to ASKOLL Holding S.r.l.
 
ASKOLL Holding S.r.l (www.askoll.com) is an Italian company which designs, manufactures and sells drain pumps and electrical motors for white goods appliances, aquariums and accessories and pumps for heating systems. EMERSON (www.Emerson.com), based in the United States, is a global technology and engineering leader in multiple industries and the  world’s top manufacturer of electrical motors,
 
“I’m proud of the success obtained over the year by my company,- declared Mr. Elio Marioni President of ASKOLL. WWith this acquisition we will achieve new ambitious objectives, we want to be a world class performer in our sector and maintain the leadership in the market segments, offering the highest performance and the best technology to create innovative solution for the benefit of all our stakeholders with an ethical and responsible entrepreneurial attitude. Research and Development, innovation, environmental protection will be the drivers of our sustainable growth, these are the added values that lead and explain our partner choice and make the ASKOLL offer special and unique.”
 
“Thanks to this acquisition,- said Dante Bigi E.A.M.E. S.r.l. Managing Director who will join ASKOLL P&C S.r.l., the new company established to integrate the acquired group - the Italian group becomes the world wide leader supplying motors  and components for the white goods industry, with a world market share of about 35% and a turnover of almost 500 million Euros with over 3,000 people employed.”
          
ASKOLL, established in 1978 in Vicenza, is a leading manufacturer of electrical synchronous motors found in many household appliances, in particular in washing machines and dishwashers. Thanks to this technology ASKOLL offers the industry improvements in cost saving, fitting and maintenance simplicity plus the benefit of saving energy. ASKOLL  today  is  an international group with operating units in 10 locations, in Italy, Brazil, Mexico and a commercial office in USA. The company turnover has reached over 130 million Euros, with 560 employees supplying the major white goods manufacturers in over 20 countries.
 
E.A.M.E. is the result of the merger of two top-ranking Italian industries, Plaset and Ceset, in 2005. In the 1990's Ceset and Plaset were acquired by EMERSON. E.A.M.E. gradually achieved leadership in their market segments: Ceset - manufacturers of electrical motors for household appliances - and Plaset  - washing machine and dishwasher drain pumps- also operating under a license agreement with Askoll. E.A.M.E. ended the financial year in 2007 with sales revenues above 330 million euro. It operates 5 production sites in 4 countries: Italy, Slovakia, Romania and China, and employs approximately 2,800 people.
           
The organizations and competences of both companies, enriched in all areas and all sectors, will integrate to face the market with improved and renewed energy.

Vicenza, 30th September 2008

For further information: www.askoll.com
Askoll Holding S.r.l.  
Marketing & Communication - Dr Massimo Furlan –Tel. +39 0444 930214 
e-mail: massimo.furlan@askoll.com