SITI B&T Group obtains 30 million euros in financing

CDP, Banco BPM and UniCredit support Siti-B&T’s new business plan focused on expansion abroad.

Cassa Depositi e Prestiti, Banco BPM and UniCredit are backing Siti-B&T’s new business plan with a 30 million euro loan via two credit lines with a duration of 5 and 7 years, respectively. The Italian group will deploy the resources to pursue further dimensional growth, strengthen its leadership in Italy and international markets and focus even more on excellence in the ceramic plant engineering sector.

As the Formigine-based group’s CEO Fabio Tarozzi explains, the aim is to continue to develop its international presence, which already consists of more than 20 branches around the world, including the most recent one opened in Dubai to provide sales, technical and after-sales support to the Gulf ceramics market. “We will also strengthen our presence in China, including production activities. We have been operating in the country for twenty years with our own company and started up the new production plant two years ago,” adds Tarozzi.

As for R&D, the group’s business plan includes a special focus on Supera technology for large slabs, which has already benefited from many new patents.

Listed on the AIM Italia market of Borsa Italiana since 2016, SITI-B&T Group Spa reported consolidated revenue of 175 million euros in 2019, 90% of which was generated abroad.