Acquisition of Lufta s.r.l in Milan and change to company name Condair

Milan, July 1, 2016 - It's a pleasure to announce the acquisition of our long lasting representative and partner Lufta s.r.l. by July 1^st, 2016.

The reason for the acquisition of the above mentioned activities in Italy is the consistent forward integration of Condair into promising geographic markets as well as the global strengthening of "Humidification and Evaporative Cooling" and in particular our service business. We have been present in the Italian market for more than 50 years and are clearly well positioned in industrial and commercial humidification and evaporative cooling.

As by August 1^st, 2016, we have also decided that Lufta s.r.l. will continue its operations under the name of Condair s.r.l.

Condair s.r.l., will operate under the new leadership of Mr. Jérôme Terefenko. It’s a pleasure for us to announce that all staff members, who previously worked for Lufta will remain with Condair.