Agreement between Rondine and Sadon

Rondine Spa recently signed a five-year lease contract for the commercial and production arm of Ceramiche Sadon (industrial complex based in Vetto, province of Reggio Emilia, Italy). Sadon (2009 turnover 26 million euro) is currently undergoing liquidation proceedings and halted its production activities in October 2009.

The five-year lease contract, which includes an option to purchase the real-estate and industrial complex located in Buvolo di Vetto, will enable Rondine (consolidated 2009 turnover 60 million euro) to develop a three-year business plan which sets a target consolidated group turnover of 100 million euro in 2012 and is expected to save around 100 jobs.