Coesia acquires majority stake in System’s ceramics business
The operation announced on 31 July last year was concluded on 14 January. Coesia has acquired 60% of System’s ceramics business through the new company System Ceramics.
The acquisition by Coesia of 60% of System’s ceramics business (consisting of 4 companies: System Spa, Tosilab Spa, Studio 1 Srl and Ciesse Elettronica Srl) through the new company System Ceramics was finalised on 14 January.
System’s founder Franco Stefani will maintain a 40% share in the company and will stay on as Chairman of the Board and Director of the R&D department.
Under the terms of the agreement, the parties have agreed on reciprocal purchase and sale options for the remaining 40% of the capital, to be exercised in the future according to agreed time periods.
The board of directors of System Ceramics has also appointed Luca Bazzani, a highly respected professional with extensive international experience in the ceramic sector, as Managing Director.
For Coesia, a Bologna-based holding company with interests in the industrial and packaging solutions sectors led by Isabella Seràgnoli, the acquisition of a majority stake in System Ceramics provides a strategic opportunity to enter the dynamic, hi-tech ceramic plant sector through a highly innovative industry-leading company.
Following the acquisition of System Ceramics, the Coesia Group expects to reach a 2019 turnover of approximately 2.2 billion euros with more than 9,000 employees and a presence in 38 countries.