Coesia and System have entered into an agreement that will see Coesia acquire 60% of the ceramic business of System S.p.A., to be subsequently incorporated into a new company named System Ceramics. Franco Stefani will maintain a 40% stake in the new company and will stay on as Chairman of the Board. The closing of the transaction is expected to occur by the end of the year.
System has its HQ in Fiorano Modenese and has manufacturing facilities in Italy and China and an international network of approximately twenty subsidiaries. It has 1,200 employees and posted 2017 revenues of Euro 329 million and EBITDA of around Euro 51 million.
Franco Stefani commented: “In my quest to identify the world’s best industrial partners with the capacity to make the company grow, I chose Coesia because it has deep roots in our local area and is an Italian group with a cutting-edge approach to technology. Together we will build a successful future, safeguarding the company’s value by maintaining local jobs, the Made in Italy prestige of our manufacturing, and the solidity of the company.”
Coesia, whose sole shareholder is Bolognese entrepreneur Isabella Seràgnoli, is a multinational group of companies that operates in the industrial solution and packaging sector. From its headquarters in Bologna it controls 99 business units (including 60 production plants) in 32 countries and employs a workforce of 7,100 people. In 2017 the group reported revenues of Euro 1.586 billion.
Coesia’s CEO, Angelos Papadimitriou, stated: “System Ceramics provides an opportunity for Coesia to enter the ceramic machinery sector, an extremely dynamic and technologically advanced industry in which System is the leader with an unparalleled record of innovation. With its global infrastructure and portfolio of technologies, Coesia is committed to supporting the growth and technological leadership of System Ceramics.”
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