lt is with a great pleasure that we inform you that Geico SpA has formed an Alliance with Taikisha Ltd. of Japan on May l9th, 2011. This alliance is aimed at achieving and exceeding the major critical expectations of our customers; being, sustainable size, financial stability, competitive solutions both in timing and pricing, vertically oriented technoogy organization, global infra-structure, innovative approach both in product development and project management, ecological and energy saving deveiopment.
In support to and to consolidate this Alliance, Taikisha has acquired 51% of Geico’s shares from Gecofin SpA. For the same reason, Gecofin, shall become Taikisha’s shareholder within a year. Dr. Arabnia remains the Chairman, President & CEO of Geico and its associated companies to make sure that the present winning strategy put in place since 2006 be continued in the future. We hope to have given you a pleasant news and remain at your complete disposal for any further clarification.