Itema SpA, a global provider of advanced weaving solutions, weaving machines, and integrated services, following the preliminary agreement reached on April 13, 2017, has signed a final agreement acquiring 61 per cent of shares in Lamiflex SpA, the leading supplier of composite materials and products for textile machinery and other industrial applications.
The takeover is part of the wider strategy of Itema’s shareholders, namely the Radici family (Angelo, Maurizio, Paolo, Bruna e Maria Grazia) with 60 per cent of shares and the Arizzi e Torri families with the remaining 40 per cent, to maximise the return from investments in locally based, multinational companies and bringing the excellence of Made in Italy (and Made in Bergamo) throughout the world.Itema SpA, a global provider of advanced weaving solutions, weaving machines, and integrated services, following the preliminary agreement reached on April 13, 2017, has signed a final agreement acquiring 61 per cent of shares in Lamiflex SpA, the leading supplier of composite materials and products for textile machinery and other industrial applications.#
Angelo Radici, member of board of directors of Lamiflex said, “The Itema–Lamiflex partnership goes well hand in hand with the Radici family determination to concentrate on business operations that ultimately lead to increased sustainability. The technological capabilities of Lamiflex in the composites sector, matched with Itema’s strong know-how matured over many decades as a leading supplier of advanced weaving machinery industry, are further enhanced by the vast knowledge of materials chemistry of RadiciGroup, thus, acting as a trailblazer for endless future growth opportunities and synergies of scale,” he added.
Luigina Bernini, president of Lamiflex said, “We are convinced that being part of the Itema–Radici of companies will greatly increase our opportunities to better compete globally by teaming up and building on our achievements so far.”
The latest changes agreed by the Bernini-Carrara family extends Lamiflex’s core business to seize new and exciting opportunities, thus providing employees with a bigger and better pool of future possibilities to develop and grow in the long term.
The move is set to create and stimulate significant synergies along the respect supply chains in which Itema, Lamiflex, and RadiciGroup companies operate and to grow not only in the textile machinery sector, but also to expand into new, highly innovative sectors, such as composites, and thus, together, be much more competitive than otherwise possible individually. This acquisition will lead to optimising processes and improving product performances, as well as providing advantages derived from a shorter, more sustainable supply chain, lessening the environmental impact of the joint operations, in line with the principles of a circular, greener economy. (GK)
Fibre2Fashion News Desk – India
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