The company, based in the Italian province of Varese, is listed on the Milan Stock Exchange and is the third player in the world in the market segment of ventilated equipment. After completing the closing of the acquisition of the air heat exchanger division of Alfa Laval in April 2019, the Italian multinational, in line with its global investment plan in strategic areas, now announces the construction of a new facility of approximately 25,000 square meters at its subsidiary company Zyklus (Jacksonville, Cherokee County, Texas) in the USA.
Crowning a strategic project aimed at entering the biggest market in the world for refrigeration and air conditioning, in June 2018 LU-VE bought Zyklus, which produces and sells heat exchangers. This was the first indispensable step in a medium-term plan for growth in the North American continent. In response to the favourable conditions in the local market, LU-VE has decided to speed up the expansion process by increasing the size of the existing plant.
The plan received a warm response from JEDCO – the Jacksonville Economic Development Corporation (a local public body that deals with the economic development of the area). In the last few days in fact the Jacksonville City Council unanimously approved a package of incentives which will enable the construction of a production facility of approximately 25,000 square metres in the Norman Industrial Park in the city. The agreement between JEDCO and LU-VE Group includes the concession, free of charge, of 80,000 square metres of ground and a long-term policy of tax credits in return for the creation of at least 50 new jobs within 48 months from the end of construction.
