NAC Global Technologies Merges with Swiss Heights Engineering – Holding 100% of Bellelli Engineering Group and Petrochem Industrie Group
Wednesday, 24 August 2016 - 14:30
Bellelli Engineering s.p.a. announce that NAC Global Technologies, Inc. (OTCBB: NACG) closed a Reverse Merger transaction with Swiss Heights Engineering S.A. (SHE) of Lugano, Switzerland, a Holding Company owning 100% of Petrochem Industrie Group of companies and major shareholder (and controlling) of the Bellelli Engineering s.p.a and his affiliates. Under the terms of the merger agreement, the shareholders of SHE received, in aggregate, 95.75% of the combined companies. SHE joins NAC as a wholly owned subsidiary and vastly expands NAC’s business size and scope with the company projecting 2016 revenues to exceed $30 million USD. The merger deal extends NAC’s engineering and manufacturing into the energy, chemical and petrochemical markets while increasing its facilities locations to include Italy, Switzerland, Colombia, Mexico, United Arab Emirates, and the USA.