An important step that shows how much Italian tanners believe in themselves. UNIC – Italian Tanneries acquires through its subsidiary Lineapelle, 2% of Sprintitaly’s capital, a special purpose acquisition company “that will incorporate Sicit via merger”
It doesn’t happen often that an industry invests in something so intrinsic to its own identity. It’s not given, but it does happen. And this time it happened with the Italian tanning segment, which, being an industry based on the restoration of the waste produced by the agri-food industry, chose to give way to a very specific strategy. A strategy can be summarized as follows: Unic – Italian Tanneries, “through its subsidiary Lineapelle S.r.l. – reads an official statement -, has acquired a quota of SprintItaly, which will acquire Sicit via merger operation”. Unic/Lineapelle becomes owner of part of the company’s capital, with a share of about 2% and a 4 million-euro value. This operation shines a light on the meaning and value of leather’s circular identity. Sicit, as a matter of fact, was founded in 1960 in Arzignano, “via the processing of residues and waste of the tanning industry via a hydrolysis procedure, created a product with great added-value”, destined to be used in the agricultural industry (as a bio-stimulant), as well as in the plaster segment (as a retardant). Such an “added-value” that the company is “completing its merger with SPAC SprintItaly: a 100-million-euro operation that will allow Sicit to quicken the pace of its strategic development plan both in Italy and abroad, strengthen its existing production sites in Arzignano and Chiampo as well as its R&D lab, and build a new plant in South America”. (lf)
“Gianni Russo – President of UNIC – Italian Tanneries / Lineapelle
“The acquisition of a part of Sicit’s capital is proof of our trust in the future of the segment, as well as being a core part of the strategic goals of the association, influential and vigilant travel companion to Italian tanneries during their journey towards the continuous development of their sustainability practices, with always-larger investments”.”
“Massimo Neresini – Sicit’s ceo
“The investment made by UNIC – Italian Tanneries represents an important endorsement for Sicit’s green entrepreneurial model, which makes us proud and can only re-assure the financial markets with regards to the goodness of their investment. Moreover, this decision testifies the quality of the work we have done throughout the years, which has allowed us to further strengthen our presence on international markets”.”
