Brazil’s Lupatech Bags Valve Manufacturer

Brazilian conglomerate Lupatech has signed memorandum of understanding to acquire 100% of Brazilian industrial valve manufacturer Tecval for approximately BRL61.7m. The combined valve production of Tecval and Lupatech will represent 70% of the total Brazilian market, the company claims. Management at Tecval estimates for the fiscal year of 2008 Ebitda of BRL18m, says Lupatech.