SITI B&T Group - Press release · 2013 August -September SITI B&T Group - Press release 2 Il Resto...
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1 2013 August-September SITI B&T Group - Press release
Summary
Il Resto del Carlino 2013 August 10 .............................. 2
Gazzetta di Modena 2013 August 17 ............................ 3
Milano Finanza 2013 August 31 .................................... 4
Il Sole 24 Ore 2013 September 16 ................................ 6
Gazzetta di Modena 2013 September 26 ...................... 8
Gazzetta di Modena 2013 September 27 .................... 12
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2 2013 August-September SITI B&T Group - Press release
Il Resto del Carlino 2013 August 10
Formigine; the turnover of Siti B&T continues to grow.
A growing turnover and stable financial standing. The Siti B&T Group in Formigine confirms, yet
again for 2012, a positive trend and looks enthusiastically toward the future through a new and
ambitious investment plan focused on internationalisation and research.
The group registered a consolidated turnover of 151 million Euro for the financial year of 2012
(70% in exports), which confirms its performance of 2011 (+56% compared with the two-year
period of 2009-2010).
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3 2013 August-September SITI B&T Group - Press release
Gazzetta di Modena 2013 August 17 Important economic daily newspaper.
SITI B&T Group, consolidated at 151 million (+56% over the two-year
period).
The turnover is consolidated at 151 million Euro, in line with that registered in 2011 (+56%
compared with the two-period of 2009-2010): this is what results from the 2012 balance sheets
of the Siti B&T Group from Formigine. If you take a closer look at the figures, you can see how
the profit margin is rising, with a gross operating margin of nearly 12%; the EBIT has risen from
2.7% to 8.1% of the turnover and the result before tax has settled at 5.9 million Euro.
Furthermore, the Group invests 3% of its turnover each year in research and development and
has registered an exports share of over 70%. The CEO of Siti B&T, Fabio Tarozzi, states that “the
result registered in 2012 clearly reveals the group’s ability to face up to the difficult conditions
of the market. We started the first six months of 2013 with positive results and in line with our
expectations.
We are satisfied with our results so far,
which prove the strength of our long-
term strategy, being that of product
innovation, diversification through
business units and internationalisation
through the development of a
network of service enterprises in
China, India, Indonesia and Mexico”.
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4 2013 August-September SITI B&T Group - Press release
Milano Finanza 2013 August 31
Important economic national daily newspaper.
SITI B&T - Five years from merging, the
group ends 2012 with proceeds worth 151
million Euro. The good times for advanced
robotics continue.
A winning union
Having sailed past its first fifty years, celebrated in 2011,
the Siti B&T group continues to grow and to reap the
rewards of the merger transaction that took place in 2007.
Five years on, the CEO, Fabio Tarozzi is able to announce
results that go against the trend. The consolidated balance
of 2012 remains on solid ground and confirms that the decision to aggregate technological and
market potentials was a valid choice: systems and advanced robotics for the tile manufacturing
industries of the whole world.
In the financial year 2012 in particular, the Siti B&T group (headquartered in Formigine in the
province of Modena), recorded a consolidated turnover of 151 million Euro with an EBITDA of
12%. What pleases shareholders even more is the EBT, which settles at 5.9 million Euro and this,
even though it is combined with major investments, sets the group in a stable financial position.
Tiles, Robotics and Sanitaryware: that of diversifying the three key sectors confirms to be a spot-
on choice across the world.
The Siti B&T group invests 3% of its turnover each year in research and development and has
recorded an export share of over 70%. “The profits of 2012 were all but sure, and this clearly
proves our ability to hold on through difficult times”, said the CEO “and there’s more to come:
we have started 2013 with a positive first six-month period and in line with what we expected.
We are satisfied and we will give new signs of acceleration on our long-term strategy, which is
still based on production innovation, diversification through the business units and
internationalisation, thanks to the development of a network of service branches in China, India,
Indonesia, Mexico and other countries”.
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5 2013 August-September SITI B&T Group - Press release
We made major investments throughout 2012. In the ceramics sector, we developed cutting-
edge kilns for tiles, which guarantee fuel savings of up to 30% and we developed new digital
decorating solutions (Evostore, Synchro 3D and Evovision), which were developed by Projecta
Engineering in Fiorano. A similar evolution took place in the sanitaryware sector too, with a new
range of made-in-Italy presses for high-pressure casting and the new production department of
resin moulds for sanitaryware exploiting exclusive technologies. In the field of robotics, SIR in
Modena developed advanced robotic systems for assembling the engines of primary car
manufacturers (supercar). The result is the confirmation of our business volumes and
improvements in the profit margins, which have enabled the board of directors to decide on a
new and challenging investment plan focused on internationalisation and research.
The Siti B&T group works through its divisions called Tile (complete plants for the tile
manufacturing industry), Projecta Engineering – Digital Design (digital decorating machines and
digital graphic projects), B&T White (full plants for sanitaryware) and Robotica, in collaboration
with SIR, a supreme partner in advanced robotic systems.
There are no new integrations or acquisitions planned for the near future, but a lot is happening
in the tile manufacturing district of Sassuolo, and something new could even involve Siti B&T .
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6 2013 August-September SITI B&T Group - Press release
Il Sole 24 Ore 2013 September 16 Important economic national daily newspaper.
Investments abroad/2. Exports
Tile production aims at Asia.
By Enrico Netti.
Destination South-east Asia and North Africa, in particular
Egypt, not to forget the BRIC area and the United States of
America. These are the markets that offer manufacturers of
machinery for the ceramics industry greater satisfaction. It is
a mandatory choice, considering the strong exporting
vocation of this manufacturing niche, where foreign sales
represent about 80% of the turnover, even if there was a
drop of 7.4 percent last year. Improvements in the domestic
demand were on the other hand registered, which increased
by 7.3 %.
This is the effect of the desire to revive the ceramics district after a 3-year crisis. Last week,
Marazzi decided to invest 30 million Euro to double the productive capacity of its factory in
Fiorano Modenese. Other contracts have been received from Italian enterprises, such as Del
Conca, Panaria Group, Rondine Group and Marazzi, who are engaged in refurbishing their plants
abroad with the latest digital technologies made in Modena.
Fabio Tarozzi, chairman of Acimac (Association of Italian Manufacturers of ceramic tile
production Machinery) and CEO of the Siti B&T Group, explains: “the trend is to use digital
printing systems on all the tile decorating lines. The market requests 3D effects and new
graphics, quality photographic images and creative mock materials, such as stone, wood and
cement”. The stoneware tiles made with these cutting-edge lines look just like travertine,
granite and marble.
These are also the machines that generate great interest from foreign buyers. Over the next few
days, these machinery manufacturers have organised open house events for customers who
have come to Bologna to visit the CERSAIE trade show.
Emilio Benedetti, CEO of Lb Officine Meccaniche tells us: “we are expecting many Chinese
buyers, as well as those from North Africa, especially from Egypt, Russia, South America and
Turkey”. PMI also designs raw material preparation lines, “We will very shortly be presenting an
innovative press loading technology” and ones to create tiles with photographic effects.
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7 2013 August-September SITI B&T Group - Press release
Reductions in energy consumptions is another key element of innovation requested by the
market and, in the end-of-line sector, BMR from Scandiano (Reggio Emilia), aims at ruling the
international marketplaces with green plants.
The Siti B&T Group is expanding its network of foreign branches. This year, it inaugurated offices
in India and Indonesia, added to those in Mexico, China (where a factory is being expanding that
produces machinery for the markets of the Far East), Spain and Brazil. A branch in Egypt is
planned to open in 2014. Internationalisation is the common growth factor. For this year, the
turnover of the Siti B&T group, which registered a consolidated turnover of 151 million in 2012,
“should remain stable, or possibly be up by one point” says a cautious Fabio Tarozzi. For Mr.
Benedetti, 2013 is the year of consolidation. The budget of PMI is around 27-28 million, similar
to 2012. “We have invested strongly in research and development – he adds – and we have a
team that engages about 10% of our personnel”.
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Gazzetta di Modena 2013 September 26 Important economic daily newspaper.
DIGITAL CULTURE
EXPERIENCE AND CREATIVITY
TO GIVE ADDED VALUE TO
CERAMICS Open house event between high
technology and a fashion design
studio
The open house event hosted yesterday
evening by Projecta and Digital Design,
which involved a two-way tour inside
the new production plant of Ubersetto,
which the company entered just a few
months ago, proposes the most
spectacular, cutting-edge ceramic
products possible.
The major contemporary trends in ceramic were on display in six different exhibition halls, from
wood to stone textures, from marble to special decorations, without limits; starting from any
type of material or element, stone, wood, fabric or cardboard, showing how their textures can
be reproduced in high-definition and the potential end result.
In one of these halls which resembled a fashion designer’s atelier, the colour trends for 2014
were displayed on the wall and it was possible to see the designers directly at work researching
and interpreting these colours.
In the other halls, seemingly irregular, more complex finishes were elegantly achieved thanks to
the technology of Evolve.
Various materials such as stone, marble, leather and wood were combined with different
elements. In several cases it was possible to see a demonstration of digital printing on natural
surfaces (stone) or ceramics using conventional systems to enrich the final result making it even
more unique and outstanding.
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9 2013 August-September SITI B&T Group - Press release
At the end of this tour of creativity, visitors were able to see a full production line of Projecta’s
Evolve range of machines, which are basically easy to use, and are used to achieve results which
seem highly complex.
A special gala dinner served in a spacious hall in the farthest side of the plant concluded the first
open house to celebrate Projecta’s new business establishment, where the focus is placed on
exceeding all limits, research and development, in the most creative and positive manner
possible.
Why set limits in design?
Digital Design: a complete partnership with its customers, from the original design to
production
As the Evolve range offers evident flexibility in terms of change of inks, speed of operation and
production, there is naturally no need to restrict the use of these machines, which guarantee
versatility of design, precision and perfect results down to the last detail as well as all the
advantages of contact-free printing even on the most irregular surfaces “only” to obtain easy
reproductions of photographic images and speed. Why not continue to explore the endless
options guaranteed by technology the limits of which are still not fully known?
This led to the creation of the Digital Design division which is housed in a twin plant on the
premises in Ubersetto, the specular image of the original building. This is where the first bold
experiments were carried out a few years ago leading to a true explosion in design last year.
“The idea” according to the persons-in-charge “consists in providing all-round assistance to our
customers. There is obviously a technological partnership which we guarantee to the people
who install our Evolve machines as well as full assistance in the constant research with the
image which has to be developed, right up to the finished product. In other words our machines
do not operate in an impersonal way but are always accompanied by ideas. Digital Design fully
exploits the potential of Projecta which is pleased to accept the constantly new challenges
proposed by the design solutions devised at Digital Design”.
This results in the use of digital decoration as a fully flexible instrument. “The digital machine is
not only a new system to replace the old one but it is, on the contrary, often preferable to use
them together in order to obtain even more innovative solutions. What really matters, however,
is the cultural factor; we need to consider digital technology as a whole new world which allows
you to finish tiles or special trims exactly according to the market demands, using the latest
technology at the lowest cost possible.
To achieve this we don’t even restrict ourselves to digital techniques, but we often combine
these with conventional methods. We constantly rely on our existing decoration lines and create
products using the best technology, laser technology and texture and relief printing, also in this
case at a far greater speed, with greater precision and at a lower cost compared to the
traditional cutting methods.
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10 2013 August-September SITI B&T Group - Press release
DETAILS
THE QUALITY OF DETAILS MAKES THE DIFFERENCE
Projecta opens its doors to development
Digital technology in ceramics at its best
It may be true that digital technology enables ceramic decoration using a machine which seems
like a simple computer printer, but why restrict yourself to ease of use when digital printers
have made huge progress in terms of graphics, effects and flexibility of production?
In recent years, Projecta Engineering has developed even further and has now set itself this very
target, namely to demonstrate to ceramic manufacturers just how much potential this
technology can still offer. It is going about this in many different ways. Just yesterday evening, in
fact, it held a spectacular open house event at its new Ubersetto plant which was set up to bring
together the aspect of technological research and design; above all this was achieved by
combining Projecta Engineering, the technical division which researches and optimizes its digital
printers on a continual basis and the Digital Design division, which is strictly linked with the
former and entrusted with the research and development of boundless production and
decoration solutions.
This is the very idea: the Evolve range of machines by Project has no bounds and any limits have
to be exceeded.
The Projecta open house event is in fact a journey through the latest technology in the world of
ceramics and at the same time the boundless possibilities of the imagination and creativity.
Evolve, maximum flexibility and endless potential
Systems made entirely in-house, easy-to-change, reusable inks
The company Projecta started out with traditional ceramic decoration. Since 2007, however, it
has adopted digital technology which it has developed to superior levels. In 2010 it entered the
world of B&T, continuing to grow and develop in an industrial sector which is constantly
expanding and evolving. Every year there are innovations in the digital world which make
existing machinery obsolete. This has led to the second need, in addition to advanced
technology, for flexibility: a machine should never go out of date and must always be easy to
use; it must be able to deal with any new decoration techniques and transform them in an easy-
to-use, up-to-date system.
With its Evolve 357 range Project has fully reached this objective: this machine is the most
flexible and is part of a complete system which does not simply offer an element but potentially
an entire printing line.
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11 2013 August-September SITI B&T Group - Press release
The Evolve decorator is the core element and can print in up to seven colours up to a width of
1680 mm. There are also systems for the pre-print phase (which apply the base glazes,
distributed with specific heads) and others with accessories which are suitable for the post-
decorative phase with the application of porcelain dip, textures and grits etc. Finally there is an
optical device for selecting products prior to the firing process.
The most important aspect remains that of flexibility: just like a common office printer, although
much larger and with far more complex printing objectives, the Projecta printer allows the
colour bars (in other words ink cartridges) to be changed quickly and continuously: “As Vincenzo
Palumbo, the engineer in charge, the brainwave behind the machine explains “Ceramic is
essentially decorated using four or five base colours, and others are then used for creating
finishes, special effects and variants but are used to a far lesser extent. With conventional, more
rigid systems, the colour bars necessary are inserted into each machine and are left there. The
Evolve range, on the other hand, allows the ink cartridges to be easily moved around (basically
they are all monochrome printers in their own right, equipped with all the electronics and
hydraulics necessary) from one machine to another, swiftly reconfiguring the system. Only the
ink actually required is used, only where and when it is needed, without any extra costs”.
Just think how much potential this system offers in a production plant where there are many
decoration lines standing next to each other with a digital decorator installed in each line. If
something special has to be produced on just one line, you simply need to take the ink
cartridges required and insert them into the machine. If the same type of production is required
in the entire plant, you simply need to insert and set the machines with the same type of ink
cartridge. A partly movable cart on wheels acts as a container for the unused cartridges,
allowing them to be efficiently taken at any time. It is sufficient to take the cart to the machine
concerned, insert the inks required and press go.
This is not all, however, there are many variants and different options: from Moving, a machine
with heads which can be tilted for the decoration of special trims to less advanced versions
which have been developed for markets and manufacturers who do not require such advanced
flexibility but cheaper and reliable production methods (using fixed cartridges with the same
graphic yield and precision).
The important thing to underline is the fact that from the most basic to the most advanced of its
machines, all the Projecta systems are entirely designed and manufactured in-house using only
Italian technology, apart from the print heads which naturally come from specialised, top
manufacturers.
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12 2013 August-September SITI B&T Group - Press release
Gazzetta di Modena 2013 September 27 Important economic daily newspaper.
New production plant and digital
decoration for the Projecta company
Important investments for the brand of the “B&T”
Group.
Ninety employees in the Ubersetto plant covering
22,000 square metres
The other evening around 600 people took part in the
open house gala event of Projecta Engineering at its
new head offices in via Viazza II Tronco, Ubersetto, for
a presentation of the new production plant, the latest
additions to the Project machine park and the Digital
Design division.
Projecta Engineering became part of the parent
company B&T Group in 2010, although it actually
started creating and developing digital decoration technology way back in 2007, with the
creation of the only machine which is self-produced, piece by piece.
The success has allowed the company to expand its business in the new premises in Ubersetto,
with a total surface area of 22,000 square metres, 90 employees and two practically identical
production facilities; one is dedicated to Projecta machinery and the other houses the Digital
Design division which deals with the creative features of the machinery.
As a manufacturer of cutting-edge systems, the company is able to turn out 18 machines per
month and sell them in basically all markets. In this new phase, Projecta Engineering has in fact
decided to place maximum focus on the creative side of digital decoration. Fast-growing,
ground-breaking technology allows more practical, faster and more cost-effective solutions from
various points of view, for the production of tiles with high-definition, realistic photographic
effects .
These systems work in a similar way to computer printers, although they are more complex.
They are flexible, can be updated from a terminal and are often wrongly interpreted as short-
cuts for simple ceramic decoration. In reality, however, the idea of Projecta is to explore the
endless creative potential of these machines: Digital Design studies the materials and graphic
ideas and turns them into high-definition images, creating new challenges for the systems.
At present, the Evolve range of machinery by Projecta which was presented at the open house
event the other evening allows the installation of up to seven colour bars on a printing width of
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13 2013 August-September SITI B&T Group - Press release
up to 1680 millimetres (for very large formats), which guarantee maximum flexibility in terms of
interchangeability of the inks which each act like a standard printer cartridge.
Twin machines can be connected to the main decorating machine; these are able to apply base
glazes on the tiles and create subsequent effects.
“The objective”, according to the company, “is to create an entire digital printing line with the
possibility to dialogue with the traditional decoration systems (rollers, meshes) with machines
which will never become obsolete”.
42 31 Agosto 2013M I L A N O F I N A N Z A
EMILIA FINANZA
Pagina a cura di Stefano Catellani
Doppiata la boa dei pri-mi cinquant’anni, nel 2011, il gruppo Siti B&T continua a cre-scere, raccogliendo
i frutti della fusione avviata nel 2007. A cinque anni di distanza l’amministratore delegato Fabio Tarozzi può annunciare risultati in controtendenza. Il bilancio conso-lidato 2012 si è mantenuto infatti in terreno positivo e conferma la validità della scelta di aggregare potenzialità tecnologiche e di mer-cato: impianti e robotica avanzata per le industrie ceramiche di tutto il mondo. In particolare nell’eserci-zio 2012 il gruppo Siti B&T, che ha sede a Formigine nel Modenese, ha registrato un fatturato consolidato di 151 milioni a fronte di un mar-gine operativo lordo del 12%, A far sorridere gli azionisti c’è il risultato prima delle imposte che si attesta a 5,9 milioni di euro che, pur essendo abbinato a importanti investimen-ti, vede la posizione finanziaria del gruppo in posizione stabile. Tile, Robotica e Sanitaryware: la diver-sificazione dei tre settori chiave si conferma una scelta azzeccata in tutto il mondo. Siti B&T, che inve-
ste ogni anno il 3% del fatturato in ricerca e sviluppo, ha registra-to una quota di export superiore al 70%. «Il risultato che abbiamo rag-giunto nel 2012 non era per nulla scontato e mostra chiaramente la nostra capacità di tenere testa al-le difficili condizioni di mercato» commenta l’ad «e c’è di più: abbia-mo iniziato il 2013 archiviando un primo semestre con risultati po-sitivi e in linea con le aspettative. Siamo soddisfatti e daremo nuo-vi segnali di accelerazione sulla nostra strategia di lungo termine che rimane basata sull’innovazio-ne di prodotto, la diversificazione attraverso le business unit e l’in-
ternazionalizzazione grazie allo sviluppo di una rete di società di servizi in Cina, India, Indonesia,
Messico e in altri Paesi». Nel corso del 2012 sono stati avviati importanti investi-menti. Nel settore ceramico sono stati sviluppati forni per piastrelle di ultima ge-nerazione, che garantiscono risparmi di combustibile fi-no al 30%, e sviluppate nuove proposte di decorazione digi-tale (Evostore, Synchro 3D, Evovision) messe a punto dalla Projecta Engineering di Fiorano. Evoluzione non dissimile nei sanitari con
una nuova gamma di presse ma-de in Italy per il colaggio ad alta pressione e il nuovo reparto di produzione degli stampi in resi-na per i sanitari con tecnologie esclusive. Nel settore della robo-tica, la società Sir di Modena ha invece realizzato avanzati sistemi robotizzati per l’assemblaggio dei motori per primarie aziende auto-mobilistiche (supercar). Risultato? La conferma dei volumi d’affari e i miglioramenti della marginalità hanno consentito al cda di delibe-rare un nuovo e ambizioso piano di investimenti focalizzato sull’inter-nazionalizzazione e la ricerca. Il gruppo Siti-B&T opera attra-
verso le divisioni Tile (impianti completi per l’industria cerami-ca), Projecta Engineering -Digital Design (decoratrici digitali e pro-getti grafici digitali), B&T White (impianti completi per i sanitari) e Robotica, in collaborazione con Sir, partner di eccellenza nei si-stemi di robotica avanzata. Nuove integrazioni e acquisizio-ni in questo momento non sono all’orizzonte, ma nel distretto ceramico di Sassuolo molte car-te sono in gioco e qualche novità potrebbe interessare anche Siti B&T. (riproduzione riservata)
SITI B&T
Unione vincenteLa modenese Lb punta sui giovani
Dopo quarant’anni tutti vissuti all’inse-gna dell’innovazione tecnologica in cam-
po ceramico, la Lb di Fiorano Modenese, fondata nel 1973 da Ivanno Ligabue ed Ermes Bigi, è pronta al passaggio di testi-mone alla seconda generazione. Ora guidano l’azienda Matteo Bigi (39 anni) e ad Emilio Benedetti (42 anni). Lb rimane un’azienda di famiglia, capofi-la di un gruppo industriale che conta oltre 200 addetti e genera un fatturato di circa 50 milio-ni. Le novità tecnologiche, che saranno presentate nel corso di un open house in program-ma presso la sede dell’azienda dal 19 al 29 settembre, nello stesso periodo di svolgimento della fiera di settore (il Cersaie a Bologna Fiere) sono orienta-te alla flessibilità produttiva, al risparmio energetico, alla ridu-zione dei tempi di lavoro, alle migliorie nel layout impianti-stico, e al raggiungimento di un più elevato valore tecnico ed estetico del prodotto.
Per Gas Plus un semestre a bassa pressioneLa Gas Plus di Fornovo nel parmense ha chiuso il primo semestre 2013 con un utiledi periodo di 8,6 milioni di euro rispetto ai 10,2 milioni del 2012.I ricavi sono stati 110,5 mi-lioni contro 163,5 milioni nel primo semestre 2012. Per il gruppo attivo nel gas l’ebitda (reddito operativo lordo) è sta-to di 34,7 milioni (contro 36,9 milioni). L’ebit (reddito ope-rativo netto) semestrale si è attestato invece a 23,1 milio-ni (da 25,1 milioni). Il primo semestre ha confermato il miglioramento della posizio-ne finanziaria netta, pari a 90,3 milioni, registrando una riduzione rispetto alla chiu-sura dell’esercizio precedente (150,5 milioni al 31 dicembre 2012). «Abbiamo ben contra-stato gli effetti dell’attuale delicato contesto economico e anche i vincoli contingenti sulla produzione non dipen-denti da attività direttamente condotte da Gas Plus», ha commentato l’amministrato-re delegato Davide Usberti.
SULLA STRADA DEI DUCATI
Al vertice c’è sempre Marazzi, poi il gruppo Concorde e Granitifiandre-Iris. Sono queste le aziende ceramiche che salgo-
no sul podio della classifica stilata da Tile Italia, in base ai fatturati 2012 delle maggiori aziende italiani produttrici di piastrelle cerami-che. Il gruppo Marazzi, che ora è parte del gruppo americano Mohawk Industries, ha chiuso l’esercizio 2012 con un fatturato di 857,7 milioni di euro, in crescita del 3% sul 2011. Segue Concorde, che si posiziona al secondo posto anche grazie alle attività estere: Novoceram, Francia, Italon, Russia, Meta, produttore di impasto ceramico e Svimisa, produttore di materie prime. Al terzo posto si conferma il fattura-to aggregato di GranitiFiandre Iris Artiostea (Romano Minozzi). Segue Finfloor (Florim) che deve il suo +3,5% in gran parte alle vendi-te dirette sul mercato Usa, e porta il suo fatturato consolidato a 315,3 milioni di euro. Panariagroup (la prima tra le quotate), in quinta po-sizione, chiude il 2012 a 280,8 milioni di euro, traendo la parte più consistente dei ricavi dalle vendite dirette sul mercato statunitense. Casalgrande Padana, producendo totalmente in Italia, con un giro d’affari consolidato di 275,05 milioni, mantie-ne la sua posizione. Al settimo posto la Cooperativa Ceramica d’Imola chiude la graduatoria delle aziende con fattura-to superiore ai 200 milioni di euro. Sono rimaste solo sette.C’è poi la fascia media, che comprende le aziende con ricavi com-presi fra 100 e 200 milioni. Fino al rilevamento dei fatturati 2011 erano sei le aziende in questa rilevazione. Ora ne comprende soltan-to quattro, essendone uscite ABK Group e Gruppo Gold Art. Tra i gruppi con fatturato inferiore ai 100 milioni si evidenziano i segni di una maggiore sofferenza. (riproduzione riservata)
Marazzi sul podio
Fabio Tarozzi
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