Q4 2021 Carel Industries SpA Earnings Call Transcript
Good afternoon. This is the Chorus Call conference operator. Welcome and thank you for joining the Carel full-year 2021 results conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Mr. Francesco Nalini, CEO of Carel. Please go ahead, sir.
Thank you. Good afternoon. Thanks for joining our call for the presentation of the full-year 2021 results. I'm going immediately to page 2 with a recap of the main corporate events of this last year. At the beginning of 2021, we started the construction of the new plants in Croatia, effectively doubling our capacity in the country and intended at supporting our growth in Europe, but also implementing the resiliency of our supply chain footprint.
The construction has been going as expected and the start of production will be in April, so next month. In 2021, we completed two acquisitions, 51% of the share capital of CFM, a system integrator based in Turkey and 100% of the share capital of Enginia in Italy, making dampers
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