ITEMA acquires 100% of BarcoVision, a division of the Belgian Barco Group. BarcoVision is a world leading producer of electronic control systems for textile machinery. The transaction has a value of euro 72 million. Itema was supported by the advisor ship of Banca Leonardo and by the consultancy of the Zonca, Briolini and Felli lawer's office in Bergamo.
The acquisition of BarcoVision means that the group, based in the Orobic Alps and headed by Miro Radici, further strengthens its leadership in the textile machinery market, increasing the industrial concern's turnover to more than euro 700 million.
Itema – the Italian industrial group, headed by Miro Radici and world leader in weaving textile machinery, with a turnover of about 670 million Euros in 2006 – has today signed an agreement for the acquisition of BarcoVision, a division of the Belgian Group Barco NV, listed on Euronext Brussels.
BarcoVision, with total sales of more than euro 55.5 million in 2006 and EBIT of 11.3%, is currently the number one producer of sensors and manufacturing execution systems in the textile machinery market, with customers all around the world. More specifically, this takeover will further strengthen Itema's position on the market, bringing Itema's total sales to over euro 700 million.
With BarcoVision as part of Itema, joining Eutron in Itema's Group's electronics business unit, the group based in Bergamo and headed by Miro Radici will further extend its product range and, at the same time, will penetrate new markets.
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