Industry News

SigmaKalon and Univer join forces to create a leader in the Italian coatings market

Published on 2006-09-21. Author : SpecialChem

SigmaKalon and Univer have signed an agreement to form a joint venture company which will sell decorative and industrial coatings on the Italian market. The joint venture company will be called SigmaKalonUniver S.p.A.

Univer will contribute its existing coatings business to the joint venture company. SigmaKalon will contribute its existing Italian decorative coatings business. SigmaKalon and Univer will each own 50% of the joint venture company. Mr Gianni Filippa, the majority shareholder in Univer and current CEO of Univer will be appointed as the CEO of SigmaKalon Univer whilst Mr Pierre-Marie De Leener, CEO of SigmaKalon, will be appointed as Chairman of the Board of Directors.

Univer has a modern manufacturing facility at Cavallirio in Northern Italy and sells both decorative and industrial coatings. It is at the forefront of the Italian market in having its own network of shops which trade under the Color Expert brand. The Univer company has 62 employees and the Univer group has sales of 25 million EUR.

SigmaKalon has decorative sales in Italy of 14 million EUR and operates under the Sigma Coatings brand. The company has 21 employees working in the decorative coatings division.

Mr Gianni Filippa, majority shareholder and CEO of Univer said "We are proud to reach this agreement with the SigmaKalon Group. With their international experience and with our national market knowledge, we will surely reach important goals."

Mr Pierre-Marie De Leener, CEO of SigmaKalon said "Our two companies have very complementary strengths which will enable the joint venture company to be a leader in the Italian decorative coatings market."

SigmaKalon, a worldwide player in decorative, marine, protective and industrial coatings, employs around 10,000 people in 40 countries, with a focus on Europe, Asia and Africa. The turnover of SigmaKalon is more than 1.8 billion euros. SigmaKalon is the second largest supplier of decorative coatings in Europe.

Source: SigmaKalon

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