Saxa Gres (Borgomeo Group) acquires Ideal Standard facility in Roccasecca

A major breakthrough has been reached in negotiations for the sale of the Ideal Standard factory in Roccasecca in the province of Frosinone, which was at risk of closing down.

As part of a 30 million euro transaction backed by the Italian government and the Lazio regional government and including resources provided by Ideal Standard, an agreement was signed with the Ministry for Economic Development on 12 February for the transfer of the facility’s complete assets to the Anagni, Frosinone-based ceramic company Saxa Gres through the newco Saxa Grestone.

According to the business plan submitted to the Ministry by the new corporate group, all 291 employees will return to work within two years and the production site will be converted from the manufacture of sanitaryware to ceramic-coated cobblestones produced using waste products, partly consisting of ash from waste-to-energy plants. The factory conversion work will begin during the next few months and will be completed by the end of the year.

Saxa Gres, part of the group led by Francesco Borgomeo and financial partners (a UK-based investment fund and an Italian fund), produces tiles and paving materials at its factory in Anagni (formerly owned by Marazzi).