11:52 AM EST - Velan Inc. : reported that it has acquired 70% ownership of ABV Energy S.p.A., an Italian manufacturer of engineered valves, actuators and control systems supplied to energy markets. The Marianetti family will retain 30% ownership and Luca Marianetti will continue to be the President and CEO of the company, which will now be named Velan ABV S.p.A. Terms of the transaction, which is being funded out of the cash resources of Velan, were not disclosed. Velan Inc.
shares T.VLN are trading even at $15.10.
