SOMEC has signed a preliminary agreement aimed at the reorganization of Treviso-based Fabbrica Works, a company already indirectly controlled through US group co. FABBRICA LLC and set up, at the time, to support the commercial growth of the latter on the main reference markets from the technical-productive point of view.
FABBRICA Works will acquire the assets already in use today, with particular reference to the production area of San Biagio di Callalta (Treviso), which is spread over 12,000 square meters – more than half of which are covered – and employs 32 people.
SOMEC Group will also increase the overall controlling stake held in Fabbrica Works from 70% to 86%.
“The prestigious orders received in recent weeks by FABBRICA in New York and by BLUESTEEL in London are parts of SOMEC’s rosy prospects in the building façades business –Oscar Marchetto, Chairman said. However, growth requires constant monitoring of the adequacy of our production capacity, called upon to keep up with it, both in terms of design and production. The operation on Fabbrica Works goes precisely in the direction of providing the Group with flexibility and autonomy in the management of resources, in support of the increasingly numerous and prestigious civil projects on which we will be engaged in the United States and Europe”.
The transaction will involve a financial commitment of €1 million, in addition to the assumption of the debt relating to the residual value of the existing leasing contract, equal to approximately €2 millions.