Home > News > Company News > Exclusive option signed for an acquisition in the Glass sector-New guidance on 2008 consolidated results

Exclusive option signed for an acquisition in the Glass sector-New guidance on 2008 consolidated results

Post Time:Aug 27,2008Classify:Company NewsView:391

Biesse SpA, a Group present in the sector for machinery for the working of wood, glass, marble and stone, announces that it has signed an exclusive option to acquire 60% of B.H.T. s.r.l. by the end of September 2009. B.H.T. s.r.l. designs, builds, installs and manages plant that produces safety glass (glass tempering furnaces). The acquisition is part of the growth (also external) and development strategy in the three-year industrial plan for the Glass Division of the Group from the Marche, which is listed on the STAR segment of the Italian Stock Exchange. The project is aimed at gradually widening the range of products through targeted and synergic integration of technologies complementary to those of the Group.

Gruppo Biesse wants to integrate B.H.T. into its own industrial and distribution structure in order to provide rapid and strong volume and profitability benefits to the company, which is headquartered in Vasto (CH). B.H.T.(

The Management of Biesse is aware of the noticeable impact that the worldwide economic and financial crisis could have on the short-term results of the Group and, in the light of the progressively deteriorating international context in which it operates, announces that it has reviewed its guidance for the 2008 financial year. The new forecasts for the current financial year show a slight increase in consolidated revenues (up 1.0%-1.5% on 2007) and a reduction in the levels of profitability. In particular, Biesse now expects to close 2008 with a gross operating profit and an operating profit down respectively 16%-17% and 19%-20% on 2007 results. The net profit at December 2008 is expected to be around € 35 million, positively affected also by a lower Group tax rate. Biesse would also like to remind investors that on 8 August it will approve the first-half 2008 consolidated results. Despite the comparison with the very positive results of first-half 2007, indications point to Group net revenues up about 4%-5% and of net profit close to € 18 million.

The Biesse Group
Biesse operates in the market for machinery and systems for working wood, glass, marble and stone. Founded in Pesaro in 1969 by Giancarlo Selci, Biesse S.p.A. has been listed on the STAR sector of Borsa Italiana since 2001. the Company offers modular solutions from the design of turnkey plants for large furniture manufacturers to individual automatic machines and work stations for small and medium enterprises and the design and distribution of single highly technological components. As a result of its attention to research and innovation, Biesse can develop modular products and solutions capable of responding to a vast range of requirements from clients. A multinational company, the Biesse Group distributes its products through a network of subsidiaries and 18 associates located in strategic markets.

The associates guarantee specialized post-sales assistance to clients whilst at the same time carrying out market research in order to develop new products. The Biesse Group has over 2,500 employees in its main production sites in Pesaro, Novafeltria, Alzate Brianza, and Bergamo, Turin, Ravenna, Bangalore and the 30 associates / branch offices in Europe, North America, Asia and Australasia. The Group also has no less than 300 resellers and agents which enable it to cover more than 100 countries.

Contacts: Alberto Amurri
Biesse S.p.A
Tel. +39 0721 439107
+39 3351219556

Source: The Biesse Group Author: admin

Hot News