In the north-east of Treviso, the Sossai brothers expand a small family-run business that produces wooden and aluminium windows and doors, and glass surfaces.
SOMEC decides to enter the running for the first Fincantieri contracts near Laguna. Qualifying in the Vendor’s List of the shipbuilding industry is a complex task, but the company pursues its goal.
Thanks to the growth of international orders for new cruise ships, SOMEC’s reputation for the specialisation in glass envelopes for ships grows and leads it to add the service of marine refitting of glass envelopes, and the upgrading and restructuring of already launched tonnage.
The company gets into difficulties due to the effects of the financial crisis on the market, and due to some poor management choices. The ownership goes to a group of local entrepreneurs.
The shareholding is consolidated with the entry of Oscar Marchetto and the co-option of the managers GC Corazza (COO) and A Zanchetta (CFO), who remained after the adversities at top management. The team secures the operations, controls the losses and focuses on increasing ship orders.
SOMEC launches its new business growth strategy program that aims to expand its offer in the Cruise Ship sector, adding glass systems, cooking equipment and interior furnishings.
The team works and the Marine sector grows in the hands of GC Corazza: the geographical scale grows, so does the barriers to entry on the supplier list of the shipbuilding sector, which is dominated by an oligopoly of companies in Europe, the United States and the Far East.
Aided by an opportunity in the sector, SOMEC takes over OXIN, a supplier of bespoke ship galleys. A company specialised in the complexities of integrated on-board systems, with high barriers to entry thanks to its stringent Hygiene and Safety standards.
The competence and specialisation of suppliers such as SOMEC is growing. The continuous search for opportunities leads to the acquisition of Inoxtrend, a Veneto-based company operating in the field of professional cooking equipment. The Hysea Marine Public Areas startup is created.
In May, SOMEC is listed on the Italian Stock Exchange AIM, classified as an engineering company. Acquisition of Fabbrica LLC, a leader in the field of engineered building facades. Alberto De Gobbi and Claudio Daniele, two people from Treviso who have been in the US for 25 years, join the group and SOMEC returns to its original business with one of the most promising opportunities in the US. Primax, a blast chiller company based in Veneto district of Professional Cooking Equipment.
TSI Total Solution Interiors of Cantù is acquired. The company specialises in the design, production and installation of interior furnishings for public areas on board cruise ships. This completes the execution of the Seascape strategy started with Oxin and Hysea.
The lockdown is an opportunity for management to consolidate the group’s centralisation for certain functions and to improve the business synergy between segments. The following were acquired during the year: Pizza Group, to integrate the offer of cooking systems with specific oven hardware; Skillmax, to acquire know-how in the creation of interiors; GICO Grandi Impianti Cucine, to add to its expertise in ship cooking equipment systems. Fabbrica Works is also set-up, a production base for glass roofing systems for the European market.
The Board of Directors finalises the purchase of a majority shareholding in Bluesteel, a company specialising in engineered facades and window and door systems, and the purchase of a minority shareholding in a number of subsidiaries (Primax srl, Inoxtrend srl and Hysea srl). The half-yearly report for 2021 shows positive indicators compared to 2019. New group identity and communication are launched during the summer and finalised in October to foster a necessary increase in awareness of the new SOMEC Group.