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Itema Group Announces Diversification Strategy

Engin Buzhttps://www.textilegence.com
After graduating from the Department of Journalism in the Faculty of Communication at Ankara University, Mr. Engin Buz completed his master's degree in Yıldız Technical University's Department of Political Science and International Relations. In 2000, he began his career as a reporter working in various publishing companies and he has prepared culture-art and economic news. Working as an editor in publications for the textile industry since 2009, Buz has started to work at Textilegence established in 2013. Engin Buz is currently preparing business news for the textile and digital printing industries prominently.

Itema Group Announces Diversification Strategy
Itema Group Announces Diversification Strategy

Itema group announces diversification strategy: Itema Group, the world’s largest privately held provider of advanced weaving solutions, including best-in-class weaving machines, spare parts and integrated services, finalized the agreements to acquire 61% of shares in Lamiflex, leading supplier of technical composite products, and a minority stake in NoeCha, provider of high-tech, wide-format printing solutions.

The acquisitions are part of a wider strategy of Itema and its shareholders, namely the Radici family with 60% of shares and the Arizzi e Torri families with the remaining 40%, to ultimately accelerate the continued expansion and secure the long-term profitability of the company by diversifying into complementary, high-growth markets through stakes in innovation-driven companies which offer significant economies of scale to fuel the joint development of each others’ core businesses.

Itema group announces diversification strategy: ready for growth

“Following a remarkable five-year period; in which Itema Group has doubled the sales of its weaving machines with consecutive, double-digit growth per annum; the Company is now ready to strengthen its leadership; to quicken the pace of its expansion and to accelerate its global reach through targeted acquisitions,” said Carlo Rogora, CEO of Itema Group.

“We chose Lamiflex and NoeCha due to their forward-thinking missions and innovative approaches; which perfectly match our dedication to supply top-performing, advanced machinery. Combining our strengths; we will no doubt reach new heights of success in the development and manufacturing of innovative, highly technological products. Itema will guarantee to Lamiflex and NoeCha Customers worldwide a structured organization; based on lean manufacturing concepts in its world-class production sites and on a global network of agents and distributors” continued Rogora.

“We are confident that this first round of acquisitions will act as an important launch-pad for our diversification strategy. It will bring positive results in the nearest future, creating significant synergies and adding value for our Customers and Shareholders.”

Itema Group expands through acquisitions

Headquartered in Ponte Nossa, Bergamo province, Lamiflex specializes in composites materials, such as carbon, glass and Kevlar; offers a portfolio of innovative solutions and patented new products with exceptional versatility and adaptability for industrial applications; catering to industries as wide-ranging as weaving machinery, medical and aerospace, among others.

NoeCha, also Bergamo-based, is a quickly-scaling-up young company which offers high-tech printing solutions; such as the revolutionary wide-format industrial UV-LED flatbed digital press; the NoeCha ONE, for photo-realistic, high impact graphics. NoeCha ensures excellent printability on different type; size of material up to 3.2x2meters at production speeds with a native 600dpi x 600dpi image resolution.

Itema Group’s move is set to create and stimulate significant synergies along the respective supply chains in which Itema, Lamiflex and NoeCha, as well as 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. These acquisitions will lead to optimizing 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.

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