Itema and Lamiflex Aim for Strategic Growth-Oriented Collaboration
Following the preliminary agreement reached on April 13, 2017, Itema SpA (part of the Radici World structure) has further signed today a final agreement for its acquisition of 61% of the shares in Lamiflex SpA, Ponte Nossa, Bergamo/Italy, thus becoming the majority shareholder in the leading supplier of composite materials and products for industries ranging from textile machinery, medical, airspace and other industrial applications.
"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,” commented Angelo Radici, who joins the board of directors of Lamiflex. The takeover is part of the wider strategy of Itema’s shareholders, namely the Radici family with 60% of shares and the Arizzi e Torri families with the remaining 40%, to maximize the return from investments in locally based, multinational companies and bringing the excellence of Made in Italy (and Made in Bergamo) throughout the world.
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.
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