Breaking News

SigmaKalon, Univer form JV in the Italian coatings market

By Tim Wright | September 27, 2006

SigmaKalon and Univer have signed an agreement to form a 50:50 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. Gianni Filippa, CEO of Univer will be appointed as the CEO of SigmaKalon Univer while Pierre-Marie De Leener, CEO of SigmaKalon, will be appointed as chairman of the board of directors. Univer has a manufacturing facility at Cavallirio in Northern Italy and sells decorative and industrial coatings. The Univer company has 62 employees and the Univer group has sales of approximately  €25 million. SigmaKalon has decorative sales in Italy of approximately $14 million and operates under the Sigma Coatings brand. The company has 21 employees working in the decorative coatings division.

Related Market & Technology: