The closing of the operation is subject to approval by the Antitrust Authority and is expected during June 2022. The agreement aims to consolidate Angelini Industries’ pursuit of growth and diversification as it becomes increasingly active in the field of industrial technology, thanks to the skills and know-how of Fameccanica, which will keep its leadership unchanged under the guidance of Alessandro Bulfon, Fameccanica said in a media statement.
“We are taking an important step, in the diversification and internationalisation of Angelini Industries. With the acquisition of Fameccanica we wish to further invest in a sector which has great growth potential and in which Italy has extraordinary resources. We are convinced that automation, innovation and robotics will be increasingly at the heart of profound change in industrial processes and will therefore represent a great growth opportunity for our group,” Sergio Marullo di Condojanni, CEO of Angelini Industries, said in a statement.
“The operation opens up a new stage in the history of Fameccanica, which will see the strengthening of our strategy of growth and leadership in the sector of single-use hygiene products, our historic stronghold, at the same time providing further drive to our diversification plans. I wish to thank P&G, which has participated in the growth and development of Fameccanica and will remain one of our key clients in all the main markets,” Alessandro Bulfon, general manager at Fameccanica, said.
Fibre2Fashion News Desk (GK)