Acquisition of Powersines Ltd. assets finally completed

Milan, Italy – September 1st 2021

ORTEA, leading global provider of power quality solutions, is pleased to announce the completion of the acquisition of the “Assets” from POWERSINES Ltd, including Brand, Patents and the complete product range.

With this acquisition Ortea will complete its commercial offer, including low power voltage optimizers and at the same time revitalizing the Powersines sales network, previously active in the European markets.

Ortea is therefore continuing its business growth despite the effects of the pandemic, the global supply chain crunch and the vicissitudes of the holding Company.

“I am extremely satisfied with the economic and financial results achieved so far in 2021, all of which are positive and a clear improvement on previous years. Double-digit percentage improvements, thanks to the formidable professional contribution and relentless commitment of all our employees and our technical and commercial partners, who share the philosophy of close synergistic cooperation aimed at mutual and constant improvement” (Massimiliano Scarpellini, CEO Ortea SpA).