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[April 2008]
Vetriceramici Makes Polish Acquisition
Vetriceramici SpA (Casola Valsenio, RA, Italy), the chemicals company specialised in the manufacturing of semi-processed products of high added value for the ceramics industry, has reached an agreement for the purchase of the company division Cover Poland Sp.Zo.o.
With this company division purchase, Vetriceramici – which is already present in Poland with its Product Care laboratory and its technical sales structure – will extend its business in the East European area, adding new on-site production opportunities and a turnover of around €2 million in products, mainly for the claddings sector.
“The agreement makes it possible for us to reinforce our presence in a very important area in terms of international growth and to satisfy the central demand for offering the best possible service for our clients in Poland and also in the Czech Republic, Russia and Ukraine”, stated Gabriele Brusa, the recently appointed Managing Director of Vetriceramici SpA, on behalf of the Fondo Efibanca-Palladio Finanziaria (EPF), which holds 70% of the ownership of the company.
“The reorganisation process of our business has made this operation possible with one of the most dynamic companies of the sector,” said Andrea Mancioli, President of Cover Poland and heir to Mancioli di Altopascio, one of the oldest Italian porcelain companies. “We are maintaining business in the sector of ceramic glaze factories with our other production units in Italy, Europe and in Asia. As for raw materials, our traditional production activity of tin oxide and special pigments will continue with Castellani srl.”
ENDS