The Cifarelli family returned to 100% ownership of Cifarelli Spa, following the closure of the exercise of the PUT option by Emak (listed on MTA, STAR), on the 30% stake in the share capital of Cifarelli Spa.
The two companies will continue their collaboration in the technical, commercial and distribution fields to seize future mutual business opportunities.
"The repurchase of the shares of the company" said Renato Cifarelli, CEO of Cifarelli "represents a renewed commitment, on my part and for my brother Roberto, in the company founded by our parents.
We thank Emak for the active relationship of these years; unfortunately the expiry of the operation comes at a particular time for the industry that led to these decisions.
We are ready, together with all our team, to continue to focus on the study and development of professional and increasingly innovative products. The enthusiasm and the global vision will guide us in facing the structural change of the market in the near future.
In recent months, some of our machines have been fundamental tools for sanitizing; for 2021 and for the coming years, we are preparing an important investment plan that will affect both new technologies and the product range. "
In 2020 Cifarelli already exported to over 70 countries with a division of 19% in Africa, 39% in the Americas, 21% in Asia and 21% in Europe. Exports (excluding sales to the Emak group) represented 92% of the turnover.
Sales, although not yet at the maximum point levels of 2017, are recovering sharply from 2019.