Regulatory Filings • Jan 28, 2021
Regulatory Filings
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| Informazione Regolamentata n. 0915-5-2021 |
Data/Ora Ricezione 28 Gennaio 2021 14:53:21 |
MTA - Star | |
|---|---|---|---|
| Societa' | : | LANDI RENZO | |
| Identificativo Informazione Regolamentata |
: | 141869 | |
| Nome utilizzatore | : | LANDIN03 - Cilloni | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 28 Gennaio 2021 14:53:21 | |
| Data/Ora Inizio Diffusione presunta |
: | 28 Gennaio 2021 14:53:22 | |
| Oggetto | : | PR Landi Renzo and Mahindra & Mahindra strategic partnership for the development of a new generation of CNG engines for agricultural applications |
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| Testo del comunicato |
Vedi allegato.
Cavriago (RE) 28th January 2021
Landi Renzo Group, a global leader in gas-powered mobility components and systems for the automotive sector, and Mahindra & Mahindra Limited (M&M), part of Mahindra Group and one of India's leading engine manufacturers, have signed an agreement to build a tractor equipped with a next-generation CNG engine.
The agreement comes from the convergence between the specific needs of Mahindra & Mahindra, the world's best-selling tractor brand that is increasingly oriented towards the use of alternative energy sources, and Landi Renzo, specialized in engineering solutions and components for alternative gas and hydrogen mobility in the Mid & Heavy Duty and Off Road segments.
As part of this strategic partnership, the common goal is to develop a new generation of CNG engines for agricultural applications.
The first target market will be India, which is currently showing exponential growth in the exploitation of CNG in the automotive sector. Landi Renzo will develop the entire control and injection system tailored for Monofuel tractors according to OEM standards, while Mahindra & Mahindra will develop the base engine, optimizing combustion and mechanical aspects starting from the existing Diesel version.
The pilot project is already underway and by 2021 the first CNG tractor prototype will be ready for testing, equipped with CNG engine and injection control systems entirely developed and supplied by Landi Renzo.
If this first phase of the project is successfully completed, other possible long-term commercial and partnership agreements will be evaluated, also with other manufacturers in the Heavy Duty and Agricultural sectors.
Cristiano Musi, Chief Executive Officer of the Landi Renzo Group, said: "We are excited about this partnership, which represents for us a further important step in the implementation of our strategy for the mobility of the future at a global level. It is a great opportunity for our Group to be at the side of a leading company like M&M. This collaboration follows the implementation of our Strategic Plan and we are working on other similar partnerships in both the gas and hydrogen sectors."
Landi Renzo is the global leader in the Methane gas, LNG, hydrogen and LPG components and systems for the motor vehicles sector. The Company is based in Cavriago (Reggio Emilia) and has over 60 years' experience in the sector, and is renowned for the extent of its international activities in over 50 countries, with export sales of about 80%. Landi Renzo S.p.A. has been listed on the STAR segment of the MTA Market of Borsa Italiana since June 2007.
Paolo Cilloni CFO and Investor Relator [email protected]
Cristina Fossati, Angela Fumis Ph: 02 89011300 e-mail: [email protected]
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