Elica Spa announced Tuesday that it has entered into a strategic partnership with Ilve that will allow the company to grow in the world of home cooking by also marketing induction ovens and hobs.

Ilve is an Italian company specializing in cooking systems that “has distinguished itself over the years for its vocation for innovation and technical wisdom in steel processing, combined with continuous research in the field of processes and technologies. Together with Ilve, Elica will espouse a philosophy of transition to new markets that will bring both companies and expand their business,” said Elica.

Elica’s stock is up 1.4 percent at EUR2.86 per share