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Carlyle to buy Italy's Marelli Motori

NEW YORK (AP) -- The Carlyle Group LP is buying Marelli Motori, an Italian company that makesindustrial generators and electric motors. .

Financial terms arranged with the current owner, Melrose Industries PLC, were not disclosed Thursday, but the deal is expected to close in August.

Founded in 1891, Marelli serves the worldwide markets for power generation, marine, oil and gas and industrial manufacturing. It operates production plants in Italy and Malaysia, along with sales, service and distribution offices in Germany, the U.K., Spain, the U.S. and South Africa.

Last year, Marelli's revenue rose 13 percent to 149.1 million euros ($196.9 million), the investment firm said.