Itema Buys Shares In Lamiflex, NoeCha

As part of a diversification strategy, Italy-based Itema S.p.A. has purchased a 61-percent stake in composite products supplier Lamiflex S.p.A., Italy, as well as a minority stake in Italy-based NoeCha S.r.l., a supplier of wide-format printing solutions.

Itema’s shareholders — the Radici family and the Arizzi e Torri families — want to expand and secure the company’s financial future by “diversifying into complementary, high-growth markets through stakes in innovation-driven companies.”

“Following a remarkable five-year period in which Itema Group has doubled the sales of its weaving machines with consecutive, double-digit growth per annum, the company is now ready to strengthen its leadership, to quicken the pace of its expansion and to accelerate its global reach through targeted acquisitions,” said Carlo Rogora, CEO, Itema Group.

“We chose Lamiflex and NoeCha due to their forward-thinking missions and innovative approaches, which perfectly match our dedication to supply top-performing, advanced machinery,” Rogora said. “We are confident that this first round of acquisitions will act as an important launch-pad for our diversification strategy and will bring positive results in the nearest future, creating significant synergies and adding value for our customers and shareholders.”