We are pleased to announce that 21 Invest, together with the management, have signed an agreement for the spin-off from the Velan Group of the Italian ball valves activity. The transaction is expected to be closed by the end of July 2008 and will be the second investment of the newly formed Fund, 21 Investimenti II.The company, renamed Valbart S.r.L, is the Italian leading manufacturer and distributor of high-end trunnion mounted ball valves for the Oil & Gas, petrochemical and power generation industries. Through its newly formed partnership, 21 Invest will bring its expertise to support the future strong development of the company, which is recognized to be a world leader in its field, supplying superior quality and service to the most important Oil & Gas projects around the world. The company has a firm determination to maintain its leadership in the valve industry, today and in the future.