Italian construction
multinational Parmasteelisa has been sold by Japan's Lixil group
to China's architectural design and decoration group Grandland
for 467 million euros. Parmasteela's CEO Riccardo Mollo said the
Italian company would maintain its operational autonomy.
Although housing equipment maker Lixil has also been in talks
with several investment funds on the sale, it singled out
Shenzhen-based Grandland as the buyer apparently due to that
company's relevance to Permasteelisa's business and sales
amount. Permasteelisa handles an outer covering for buildings
called a curtain wall.
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