Italy: TechnoNicol has strengthened its position in Western Europe with the acquisition of an Italian insulation and waterproofing producer, Italiana Membrane. TechnoNicol has said that it intends to invest in small upgrades aimed at increasing production efficiency and reducing costs at its new Italian business over the next two years.
Italiana Membrane runs several production plants that manufacture a range of roofing and waterproofing bitumen modified membranes, which are sold in Italy and 50 other countries. The company exports around 35% of its output, mainly to markets in North and Latin America, Scandinavia and the Middle East. In 2011, its annual turnover amounted to Euro50m.
"The acquisition of Italiana Membrane allows us to not only increase exports, but it gives TechnoNicol the opportunity to take a significant niche in the western markets," said TechnoNicol's president Sergei Kolesnikov. Prior to the takeover, TechnoNicol held talks with Italian trade unions and reached an agreement on the number of Italiana Membrane workers it would employ and future pay levels.
The Italian firm's main plant has a production capacity of 20Mm2/yr. It operates three polymer-bitumen material lines; one line produces roofing shingles made of APP modified bitumen reinforced with non-woven polyester and glass fibre; another turning out heat insulation and waterproofing panels and a sixth line producing waterproofing liquids.
