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Gaensel Energy Group, Inc., (OTC: GEGR), a diversified holding company, announces its agreement for the acquisition of 40% of TEC.AL.CO. (TEChnology of ALuminum COnductors), an innovative industrial advanced technological company specializing in the production of wires and stranded conductors in aluminum for alloys for “automotive” and “electrical distribution” applications expected to play an abundant role in the emerging Electric Vehicle (EV) market globally.
Anyone who may be looking into diversified holding companies at this point in time could do well to consider taking a look into Gaensel Energy Group Inc (OTCMKTS:GEGR). The company, which is involved in a number of sectors, was in the news last week on November 30, 2022 after it announced a new corporate update.
Gaensel announced that it had been successful in finally reaching an agreement for the acquisition of a 40% stake in the company TEC.AL.CO. The company in question is based out of San Ferdinando in Italy and is involved in the innovative industrial space. The company offers highly advanced technological solutions which help with the production of wires and stranded conductors made from alloys as well as aluminum. The wires are then used for electrical distribution and automotive applications.
In this context, it should be noted that the picking up of interest in the company could well prove to be a significant long-term boost for Gaensel. TEC.AL.CO is a highly experienced company in the aluminum drawing space and has been working in the space since as far long as 1979. It was back in 2012 that the company decided to establish its new and modern manufacturing facilities.
The entry of Gaensel in the scheme of things is expected to help with the increased sales and supply for TEC.AL.CO. In addition to that, it is also believed that Gaensel is also going to help the company in boosting its sales in the European and North American markets.