Landi Renzo S.p.a. and Clean Energy Fuels Corp. will combine compressor manufacturing subsidiaries to form a new stand-alone company.
Closing is expected by the end of the year. Clean energy will own 49% of the new entity with Landi Renzo owning the remaining 51% and taking over operational management. Andrew J. Littlefair, current President and CEO of Clean Energy, will serve as the chairman of the board. Cristiano Musi, current CEO of Landi Renzo will become CEO of the new company as well.
The combined company will be headquartered in San Giovanni Persiceto (BO), Italy and retain Clean Energy’s manufacturing operation in Chilliwack, British Columbia, Canada.