One more leather buyout goes on in Italy. After Pasubio (the tannery based in the province of Vicenza) takeover by CVC English fund, another Venetian tannery has been recently bought out by foreign investors, namely Chinese. In fact, ISA TanTec Chinese group has become the majority shareholder of Scamosceria del Brenta, an Italian tannery headquartered in Bassano del Grappa. The Asian holding, which is currently taking on 800 employees in their three tanneries, located in China, Vietnam and the USA, will therefore expand their international business turnover. “Such buyout will enable us to act, once again, as global players in the tanning industry – points out Uwe Hutzler, CEO of ISA TanTec – as we have been stepping into the Italian market”. Chinese management announces in a release that Scamosceria del Brenta (founded in 1941) will provide the group with machinery and know how, so as to turn themselves somehow into a research and product development hub of ISA group. Angelo and Filippo Gerolimetto, general managers of the Venetian tannery, “have invested in ISA TanTec”, clears up the release.
