Biesse Group: acquisition in the glass industry

Biesse Group (www.biesse.it) announced it has signed an exclusive option for the acquisition – within September 2009 – of 60% of B.H.T. srl (www.bht.it) , specializing in the design, construction, installation and management of safety glass processing plants (hardening ovens).
The operation fits into the expansion plans of the Marche-based company, which aims at growing also through external acquisitions. The company, listed on the Star segment of the Italian Stock Exchange, has drafted a triennial plan for its Glass Division, envisaging the gradual expansion of the product range through the targets and synergic integration of complementary technologies.
Biesse Group also aims at integrating the B.H.T. company into its own industrial and distribution organization, so as to achieve great benefits in terms of volumes and profitability of the company based in Vasto (near Chieti).
B.H.T. supplies glass bending and hardening plants for applications in different industries, including automotive, constructions, home decoration and household appliances. The B.H.T. ovens include horizontal, tilting and continuous models to produce hardened, flat and curved glass.
Biesse communicated that, in the past two-year period, B.H.T. has recorded an average yearly turnover close to 6 million Euros with a 9.1 percent Ebit margin.
If executed, the subscribed option value will be regulated by cash with two payments in 2009 and 2010.