Our story

Over 190 years of manufactoring heritage

STF LOTERIOS combines the know-how of three pioneer companies in the heat exchange and pressure equipment field - STF, Loterios, and Balcke-Duerr Italiana - catering to the nuclear and conventional power plants as well as oil&gas, chemical, naval, and mining industries.
  • 1937STF S.P.A.

    STF started out by supplying complete heat transfer solutions to service the power generation industry for utility and industrial applications. It soon became one of the most recognized manufacturers of large size heat exchange equipment and complete units in the international market. The high attention to the quality, safety, and reliability recognized to its equipment, allowed STF to enter in 2005 the nuclear market.
    In 2019 STF became part of the Balcke-Dürr GmbH leading to the establishment of STF Balcke-Duerr S.r.l.
  • 1950Balcke-Dürr Italiana S.r.l.

    The Fontignano plant was established in the early 1950s as CO.I.FER srl and was immediately active in iron constructions for civil and industrial use. Its expansion came at the end of the 1970s with the supply and maintenance contracts for the main thermoelectric power stations in central Italy. In the 1990s it became point of reference for the construction of Air Intake Systems for gas turbines, and in 2005 took on an international character with the acquisition by the Balcke Dürr group and its parent company SPX Corportation. Over the past few years, the portfolio of Air Intake Systems realized in Fontignano has grown considerably.
  • 1982Loterios Spa

    was established in 1982 to market initially Titanium sponge, ingots, slabs and mill products. The following year, expanded its range to the fabrication of pressure vessels, tanks, heat exchangers, reactors, and columns in Titanium as well as reactive metals such as Tantalum and Zirconium.
  • 2019STF Balcke-Duerr S.r.l.

    Balcke-Duerr GmbH, guided by the investment fund Mutares, acquired STF SpA and Loterios SpA to create the Italian branch STF Balcke-Duerr S.r.l. Gerenzano and Fotignano were designated as the main production sites for the group's products portfolio. Later, the company added the Marghera site near the Venice seaport to secure an outlet to the sea for international shipping.
  • 2023STF LOTERIOS S.r.l.

    C-Capital, an Italian private equity fund, acquires STF Balcke-Duerr S.r.l. following the exit of Mutares and Balcke-Duerr GmbH. We are currently focusing on fabricating industrial heat transfer solutions and air filtration systems in corrosion-resistant exotic materials as titanium, zirconium, nickel alloys and super duplex for nuclear, conventional, lng, oil&gas, chemical, petrochemical, maritime, mining, and pulp&paper sectors.

    The high quality of the products, the possibility to supervise the installation at the site of our equipment all over the world, and the overall post-sales assistance granted by a skilled team, makes us an experienced and reliable partner committed to the success of the project.


Three production sites: Gerenzano, our headquarter, and Marghera are dedicated to heat exchange equipment, whereas in Fontignano, we fabricate air filtration systems.
All sites are ISO 9001, 14001 and 45001 certified.


Varese - Lombardy

Total area: 25.000 m2
Production area: 12.000 m2
Lifting Capacity: 80 t (upgrade 150 t)

HQ and main production site for heat exchangers, pressure vessels, steam surface condesers, and special items.

Equipped with clean room for the production of feedwater heaters and other components intended for the nuclear sector.


Perugia - Umbria

Total area: 21.800 m2
Production area: 7.600 m2
Lifting Capacity: 40 t

The product portfolio of the site includes Air intake filter systems and elements, and Waste Heat recovery units for Onshore and Offshore Pipelines, Storage and LNG Refineries, Petrochemicals and Power industries.

Specifically for the marine sector: Cooling Units for PODs.


Venice - Veneto

Total area: 1.250 m2
Medium height: 11 m
Lifting Capacity: 25 t

The site provides access to sea and is used for the assembly and international shipping of heavy equipment and components.