Gruppo Ceramiche Gambarelli, a new company with a stronger market presence

Following a major equity investment by two important holding companies, Finanziaria Senese di Sviluppo and Fidi Toscana, the company Ceramiche di Siena of Buonconvento (SI) is resuming operations with renewed vigour. The transaction, completed a few weeks ago, resulted in the creation of a new company called Gruppo Ceramiche Gambarelli, which took over the Ceramiche Siena and Ceramiche Gambarelli business units and allowed for the relaunch of the two historic brand names. In the new corporate structure, Finanziaria Senese di Sviluppo and FidiToscana hold a 34% stake while the remaining 66% is owned by Siena capital, a holding company headed by the brothers Giuseppe and Tommaso Pozzi.

The overall investment (1.25 million euro) has made it possible to rehire 90 of the 165 employees laid off temporarily under the terms of the wages guarantee fund and to completely renovate the old factory, including the installation of innovative plant for porcelain tile production. The new company’s key aims are to gradually return to the turnover volumes attained in recent years, including a medium-term target of more than 35 million euro, and completion of the associated re-employment programme for staff still temporarily laid off.

The company strategies have also changed and will now focus on the production of products with high margins. At the recent Cersaie trade fair in Bologna, the Group unveiled the innovative Damasco stylistic collection developed by its research centre, as well as a new series of Oxygena antismog and antibacterial tiles covered by approved patents.

The Group is anticipating a turnover of almost 20 million euro and a production of 1.2 million square metres of tiles in 2010. The goal for 2011 is a turnover of 25 million euro and an output of 1.8 million sq.m.