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SITI B&T Acquired the Whole Minority Share of Projecta Engineering
SITI B&T Group S.p.A., manufacturer of complete systems for ceramic tiles and sanitaryware, reported the acquisition of 48 % of the share capital of Projecta Engineering, group company that operates in digital decoration technologies, consolidating its holding at 100 %.
Projecta Engineering also holds 62,5 % of Digital Design, the company involved in design and graphic research services. “Since its purchase, basically a start-up in 2010, Projecta Engineering has become one of the reference companies for digital decoration technologies on the ceramic market”, said Fabio Tarozzi, Chairman and Chief Executive Officer of SITI B&T Group. Projecta Engineering booked a turnover of EUR 35,6 million, achieving an EBITDA of EUR 3,7 million in 2017. The net financial position at 31.12.2017 was EUR 5,2 million with shareholders’ equity of EUR 11,5 million (including the share held in Digital Design). The transaction was performed for a value of EUR 4,7 million, of which EUR 3,375 million payable in three annual instalments of EUR 1,125 million each.
