SITI B&T acquires 75% of Diatex. Tarozzi “A stornger group and industrial synergies in finishing technologies”admin
Formigine, 21 January 2020 – SITI B&T Group, manufacturer of complete systems for tiles and sanitaryware listed on the AIM Italia market, has completed the acquisition of 75% of the parcel of shares in Diatex, a company in Villaverla (Vicenza), active in the production of diamond tools for stone, ceramics and glass processing. The transaction has a total value of 7.5 million Euro.
Thus, the position of SITI B&T Group as a supplier of complete systems located in the ceramic district, where there is its headquarters and all the Research & Development activity concentrated in the BT-Lab technology centre of Formigine and with operating arms all over the world, is further strengthened.
“This acquisition – comments Fabio Tarozzi, CEO of SITI B&T Group – allows us to promote new synergies with the finishing technologies of our company Ancora, to offer the market new high-performance products and new services. Diatex will be able to give a strong boost to exports thanks to our international network, which has over 20 branches”.
Therefore, SITI B&T Group continues to invest and grow, uniting with an excellence in a fundamental niche for surface finishing, a leading company in its segment with strong ceramic skills. Diatex and SITI B&T have already developed diamond discs together for an innovative green cutting system for the Supera® line installed at the customer Best Surface, in Spain, where slabs of thicknesses from 6 to 30 mm are produced.
In addition to the cutting discs, the Diatex catalogue includes squaring wheels for ceramics, in particular for dry squaring, in which Ancora (the SITI B&T Group company specializing in tile finishing) stands out with its high speed solutions, which guarantee maximum productivity in the world.
In 2018 Diatex S.p.A. generated a turnover of 10.7 million Euro.