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[February 2007]
Top Management Transition at Florida Tile
Panariagroup Industrie Ceramiche SpA has announced the substitution of the top management of Florida Tile, the US company it acquired in February 2006.Luca Setti will be Vice President/CFO responsible for Finance, Accounting and Business Operations. Massimo Barbari will be Vice President responsible for Sales, Marketing and Distribution, while Bernie Schwartz, Vice President, will continue to be responsible for Manufacturing. They will report directly to Giuliano Pini, CEO of Panariagroup, and to Emilio Mussini, President of Florida Tile Inc.
Fabio Marasi and Luca Bazzani, managers of Panariagroup, will continue to advise and be on staff to support company operations.
The CEO Buck Burwell, the CFO John Corcoran and the Vice President for Sales, Marketing and Distribution Bill Powers will leave the company in the next few months.
Giuliano Mussini, Chairman of Panariagroup, said: "We are very pleased with our acquisition of Florida Tile and we are grateful for the leadership of Mr Burwell and his team during this transition period. Florida Tile can now count on a very solid platform and a good strategy for future growth in the US market.
"The new management will help the Group in the completion of the restructuring process, that includes a new state of the art porcelain plant in Kentucky, scheduled to start producing porcelain tiles in July of this year.
"The US investment plan has a strategic relevance in the growth process of Panariagroup. The combination of Italian excellence in technology and in design with the relevant know-how in logistics and distribution of Florida Tile will grant the Company outstanding growth possibilities in volume, margins and profitability."
www.panariagroup.com
ENDS