Pump manufacturer Aversa Bucharest has been bought by Termomeccanica Pompe of Italy, which acquired 66.27% in the company from the state. State Assets Resolution Authority (AVAS) officials were not available for comment. "We know the Aversa company very well, we first worked together six years ago. We are convinced this transaction can create a European competitor. Aversa will be a regional centre in the pump business, with design, manufacturing and sales operations that will extend beyond its own products to the products made in Italy. This event is a very important industrial operation for us," said Aldo Sammartano, Termomeccanica's Italy chairman. Aversa had built up a total of some 21 million euros in debts after nine months of the year, of which more than 80% were debts to the state, and made a mere 50,000 euros in profits from a 9.32 million euro turnover. The debts to the state were not transferred to the Italian company and the price included the striking off of the commercial debt. ZF
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