SergeFerrari has announced the acquisition of a 55% stake in the capital of the Taiwanese company F.I.T Industrial Co. Ltd, through the purchase of securities from the current family shareholders. F.I.T designs, manufactures and distributes high-tech non-combustible materials. The acquisition will become effective following its approval by the Taiwanese authorities, currently scheduled for Q2 2020. In 2019, F.I.T generated revenues of around €12 million from a base of around 100 customers in 15 countries. Founded in 2003, the company was initially involved in the production of glass yarn. It has now developed unique expertise in the manufacture and application of glass/PTFE membranes (non-combustible materials). It employs around 100 people, mainly located at its Chiayi industrial facility in Taiwan. This acquisition will allow SergeFerrari to bolster its offering of non-combustible materials, high-value-added innovative products, intended primarily for the tensile architecture market. It will also provide the Group with a new production facility in Asia, a region that plays host to a significant portion of global infrastructure investment. SergeFerrari Group will also make its global specifier and distribution network available to F.I.T for the delivery of these non-combustible materials.
