Italian glass wholesaler Vetri Speciali S.p.A., which is 43.5% owned by Italian textile, wine and glass group Industrie Zignago Santa Margherita S.p.A., signed a deal on 30 May 2005 to incorporate its…
Italian glass wholesaler Vetri Speciali S.p.A., which is 43.5% owned by Italian textile, wine and glass group Industrie Zignago Santa Margherita S.p.A., signed a deal on 30 May 2005 to incorporate its wholly-owned special glass making units Nord Vetri S.p.A., Vetrerie Venete S.p.A. and Attivita Industriali Friuli S.r.l, all located in north-eastern Italy. The three companies registered a combined turnover of some EUR 82 million (USD 101.7 million) in 2003. The financial results of the three units will be retrospectively incorporated into Vetri Speciali“s balance sheet with effect from 1 January 2005. The merger of Nord Vetri, Vetrerie Venete and Attivita Industriali Friuli into Vetri Speciali is in line with Zignago“s reorganisation strategy, launched at the end of 2004.