Salt Lake City, Utah--(Newsfile Corp. - November 30, 2022) - Gaensel Energy Group, Inc., (OTC Pink: GEGR) ("Gaensel" or the "Company"), a diversified holding company, announces a corporate update.
Gaensel Energy Group is pleased to announce its agreement for the acquisition of 40% of TEC.AL.CO https://www.tecalco.it/en/ an Italian innovative industrial company based in San Ferdinando (RC), Italy.
TEC.AL.CO. (TEChnology of ALuminum COnductors), an innovative Italian industrial company with advanced technological processes specializing in the production of wires and stranded conductors in aluminum and its alloys for "automotive" and "electrical distribution" applications.
TEC.AL.CO.'s founders have years of experience in aluminum drawing, that all started in back in 1979. The continuous research of innovative solutions led to numerous patents for the multiwire drawing line in 1999. In 2012, starting from the experience gained in the wire and multiwire drawing, the modern manufacturing facilities for TEC.AL.CO. were inaugurated.
In 2016, the demand increase marked the necessity to ramp up the production capacity with specific production lines for the aluminum technology and the Company is now the European leader in the automotive field for the manufacture of complete wire-harness solutions with certification of aluminum cables for some of the world's largest automotive groups.
The strategic factor that makes TEC.AL.CO. highly competitive is mainly represented by the innovative and sophisticated multiwire drawing technology, which allows the simultaneous production of multiwire in parallel in formation of up to 16 wires having diameters from 0,120 mm to 0,800 mm. Such technology grants a very-high quality of wires (regular and with absence of process residues) and the possibility to draw the wire more quickly in respect to other existing industrial methodologies.
Thanks to the experience gained in the aluminum processing, the entire group of stranding and roping lines have been specifically designed and customized to in-house specifications. Utilizing this technology reduces drastically the production costs, while representing a significant contribution to the diffusion of aluminum cables in replacement of copper cables, which are more expensive, heavier and more environmentally impacting.
Gaensel's entry into the world of TEC.AL.CO. is to help guarantee the momentum in increased sales and supply, increase European and North American sales further enhancing its role as a key partner in the goal to become the world leader in "Green" manufacturing of aluminum cabling and wire products for the automotive and all the above energy transmission industries.
About Gaensel Energy Group, Inc. (OTC Pink: GEGR):
Gaensel Energy Group asset base currently consists of proven companies in Biotech, Commodities, Health, Beauty - Fashion, Green and Renewable Energy, and Technology. The management teams for each of these divisions are actively seeking similar partners in each space for expansion and additional acquisitions. We have been listed on the United States OTC Markets since 2002 and the Company is current.
Gaensel Energy Group, Inc.
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Forward-looking statements
This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of Gaensel Energy Group, Inc., (GEGR), and certain of the plans and objectives of GEGR with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future EBITA and future developments in our organic business. Forward-looking statements can be identified generally as those containing words such as "anticipates", "assumes", "believes", "estimates", "expects", "should", "will", "will likely result", "forecast", "outlook", "projects", "may" or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
These factors include, but are not limited to, domestic and global economic and business conditions, the successful implementation of our strategy and our ability to realize the benefits of this strategy, our ability to develop and market new products, changes in legislation, legal claims, changes in exchange and interest rates, changes in tax rates, pension costs and actuarial assumptions, raw materials and employee costs, our ability to identify and complete successful acquisitions and to integrate those acquisitions into our business, our ability to successfully exit certain businesses or restructure our operations, the rate of technological changes, political, economic and other developments in countries where GEGR operates, industry consolidation and competition. As a result, GEGR actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.
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