Modula reports tenth year of growth
Modula, the smart factory owned by Franco Stefani which in July acquired a 60% stake in the Bologna-based firm MB, reported strong growth in 2019.
Modula, the Salvaterra, Reggio Emilia-based company led by Franco Stefani, confirmed its tenth consecutive year of growth in 2019 with sales of more than 2,600 automatic warehouses, revenues in excess of 160 million euros and an EBITDA of 9%. Given these exceptional results, the company has decided to pay each employee a bonus of more than 3,000 euros in addition to existing contractual benefits.
In 2019, Modula continued its business plan focused on international expansion.
One of the world leaders in the design and production of high-bay automatic warehouses, the company has 4 production units in Italy, China and the United States, 8 subsidiaries worldwide and around 700 employees, as well as a network of over 100 distributors who work with the company’s sales team. Attention to customers, products and the market, dynamism and capacity for innovation are the company’s key strengths. In early July, it also completed the acquisition of a 60% stake in MB of Crevalcore (Bologna), a company specialising in the production of cold moulds and mechanical machining, as well as a longstanding supplier of parts used in Modula warehouses. The acquisition is part of a strategic business plan which focuses on an insourcing model for the production of high-bay warehouses in a factory that has become a benchmark for the application of Industry 4.0 criteria.
“The transaction is strategically important for our company because it allows us to increase our competitiveness, efficiency and speed of production while at the same time providing greater solidity and business continuity to one of our strategic suppliers,” said Franco Stefani. “We now control 95% of the production process of our high-bay warehouses internally, which will help us pursue our international expansion plan and maintain the excellent results we have achieved to date.”