MILAN, May 20 (Class Editori) – SICIT does not fear the Sino-US trade war. The chemicals company does not want to leave neither market. "We're not here to make war," said CEO Massimo Neresini on the day of his company's debut on Italian stock market AIM segment. "It is not easy to export in China, but we can make some good projects there. Same goes for the U1S".
The company managed to get quoted on the stock exchange thanks to a business combination with SprintItaly, through the SPAC promoted by Fineurop, Gerardo Braggiotti, Matteo Carlotti and Francesco Pintucci.
"SICIT is an excellent company, well-known around the world, and selling in 90 countries," said Matteo Carlotti – promoting member of SprintItaly and member of SICIT’s Board of Directors – after the listing ceremony.
In 2018 the company closed with 55 million euro in profits, a 22.7 million EBITDA plus net profits for 13.4 million. The chemicals company specializes in production and B2B trading of protein hydrolysates employed in agriculture and in gypsum industry, and has recently joined the AIM segment in Italy.
The 100-million business combination operation will allow the company to speed up its strategic development plan in Italy and abroad – through the upgrade of its existing plants in Arzignano and Chiampo as well as of its R&D laboratory, and through the construction of a new production plant in South America.
"We are considering foreign investments in a 2-5 years' time, and we are thinking about both South and Central America," said Giuseppe Valter Peretti, President of SICIT, following the company's debut on AIM Italia. "We are yet to decide, but it is something we have been discussing".
"Today is an important date for SICIT as well as for the whole leather district in Vicenza. Both the business combination with SprintItaly and the company's listing on the stock exchange are strategic moves, hoping to quicken and to strengthen the long-term growth we have been pursuing," added Neresini. "From this moment onward, we are going to become even more present on international markets, and we will manage to implement our important industrial plan in just a few years".
(Source:Class Editori)
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