Barbieri & Tarozzi and Siti become a single entity

Sep 22, 2006

22/09/06 The creation of a large new industrial group in the ceramic machinery sector was officially announced this morning to a packed press conference.
Siti, an historic company in the sector which has been operating for more than 60 years in all the major world markets, and Barbieri & Tarozzi, a group based in Formigine (province of Modena) which supplies technologies for all stages of the ceramic production process, have joined forces to create a single industrial concern, becoming the second-largest ceramic machinery manufacturing group in the world in terms of turnover. The combined turnover for the current year is estimated at approximately 185 million euro.

Fabio Tarozzi, previously general manager of the Barbieri & Tarozzi Group and now vice operating chairman of the new Group, was given the task of introducing the new business entity to the press and describing its structure.
"This important agreement is based on the fact that the two companies are perfectly complementary, both technologically and commercially, as Mr Tarozzi explained. "These are two essential aspects for the sector and the mainstays of the development strategies of both companies. It is this complementary nature together with a concrete operational synergy that will characterise our Group's first steps".

"The purpose of the operation is not so much to optimise volumes and production costs or to expand market presence, although these remain important goals, - continued Mario Speranza, the Group's new managing director and previously the managing director of Siti".
"The main objective is to manufacture machines of the highest possible quality capable of providing cutting-edge solutions and excellent service for the ceramic industry worldwide".

From a geographical perspective, the two companies' strong presences in key areas complement perfectly. B&T's consolidated presence in Europe, the Middle and Far East and Latin America will be matched by SITI's strong position in Eastern Europe, Russia and the Baltic States, Brazil and North Africa. Together these countries will account for approximately 85% of the Group's total turnover.
The product range will be highly integrated without any significant overlap. Combining expertise is also the best assurance of technological growth for the Group.
Besides the new corporate structure (Siti was incorporated into the Barbieri & Tarozzi Group, which already held a 15% share in the company), the union of the two companies will also involve all the other company areas. Internal committees are already at work to gradually evaluate the best solutions.

The Barbieri & Tarozzi Group began operating in 1961 in the handling and storage sector. Its takeover of the Nassetti group in 1999 was a milestone in the growth of the Group, which is now the only complete plant supplier based in the Sassuolo ceramic cluster. Today B&T, which has strategically extended its business to other sectors such as robotics, is able to offer a global service in every sector of the ceramic industry. The Group has approximately 700 employees and a strong international presence with subsidiaries in Spain, Portugal, Mexico, Brazil, Mexico and Russia. It also has a network of agents and branches capable of assuring continuous and professional local support in Thailand, India, Indonesia, Iran, Egypt and Vietnam.

SITI of Marano Ticino (province of Novara) is one of the oldest ceramic machinery companies and is renowned for its technological expertise and outstanding level of quality. The company, which celebrates 60 years of activity in 2006, recently overcame a difficult period to confirm its position as one of the world's most important producers of complete plant and machinery for tile production. SITI also manufactures kilns for sanitaryware and tableware. The company operates both in Italy (premises in Maranello and Novara) and abroad with branches in Brazil and Spain and various liaison offices in India, Russia, Egypt and Singapore for the Southeast Asian market.