PRESS RELEASE: ORI MARTIN TRAFILERIA LARIANA DRAWING STEELS SPA
ORI Martin, a Brescia group specialized in the production of special steel, has acquired a majority stake in Trafileria Lariana Drawing Steels Spa, a company based in Lecco area and owned by brother and sister Michele and Angela Stefanoni who will maintain their presence in the company so as to ensure business continuity.
In 2018 Trafileria Lariana registered a consolidated turnover of 13.4 million euros. The company employs 20 people, and - starting from wire rods produced by ORI Martin – it manufactures drawn wires for the automotive and mechanical industries.
By acquiring 70% of the capital of Trafileria Lariana, ORI Martin will consolidate its own production capacity and expand into a new business area with a strategy of verticalization of semi-finished products as well as paying particular attention to the market.
Sitting on the company Board of Directors there will be Angela and Michele Stefanoni, Roberto de Miranda, Giovanni Marinoni Martin, Andrea Agnelli, whereas Luca Civati will be appointed as CEO.
ORI Martin commented: “We have chosen to take over an existing business to widen our clientele rather than introducing new production capacity in an already saturated market. We therefore express great satisfaction for this successful operation that gives strength to both companies”.
Angela and Michele Stefanoni commented: “We are proud of being part of a prestigious and well-established Italian group such as ORI Martin Group. This partnership will be a starting point and a source of new stimuli. We are very keen to combine our strengths and synergies and have a common goal: investing, growing and facing new market challenges to offer an increasingly complete, efficient and customer-focused service”.
Trafileria Lariana was assisted by Milan law firm CGP Studio and PWC team, whereas Filippo Cecchetti from DLA Piper Law Firm supported ORI Martin.