During the second quarter of 2014, we founded an automation company, named RHOEL. It is a wholly owned subsidiary of Continuus-Properzi, S.p.A. and is located on the outskirts of Milan, Italy, approximately 45 km from our headquarters. The company is composed of managers and engineers with extensive experience in this specific sector.

We are very proud of this recent accomplishment for several reasons. First, this new synergy will further qualify Continuus-Properzi as a global integrated supplier in the sector of non-ferrous equipment. Secondly, we are now in a position to offer Properzi users interesting and attractive upgrading and modernization options for the existing electrical control systems of their Properzi rod mills.
Needless to say, the integration of this new Properzi company will facilitate improved efficiency during the commissioning of our plants and we are certain that we will provide better service to our clients as a result.