Formigine, 21 January 2019 - SITI BT Group S.p.A., manufacturer of complete systems for tiles and sanitary ware, listed on the AIM Italia market (ticker: SITI) has reported the acquisition of 48% of the share capital of Projecta Engineering, the group company that operates in digital decoration technologies, consolidating its holding at 100%.

Projecta Engineering also holds 62.5% of Digital Design, the company involved in design and graphic research services.

'We have today consolidated ownership of a company - Fabio Tarozzi comments, Chairman and Chief Executive Officer of SITI BT Group - that is one of the cornerstones of our Group. Since it was purchased, basically a start-up in 2010, Projecta Engineering has become one of the reference companies for digital decoration technologies on the ceramic market. The constant technological innovation of products and the introduction of cutting-edge ideas and solutions allows us to offer excellence in the look of the final product'.

Projecta Engineering 2017 has booked turnover of 35.6 million euros, achieving EBITDA of 3.7 million euros. The Net Financial Position as at 31.12.2017 was 5.2 million euros with Shareholders' Equity of 11.5 million euros (figures include the share held in Digital Design).

The transaction was performed for a value of 4.7 million euros, of which 3.375 million euros payable in three annual instalments of 1.125 million each.

Projecta Engineering has a staff of 74, of whom 22 in the Research and Development Department alone; it holds 17 patents with investments in R&D worth in excess of a million euros per year.

Recently, Projecta Engineering has launched numerous innovative products on the market, such as the Full Digital Decoration line,designed with water-based environmentally-friendly technology (with efficient, environmentally-friendly water-based inks), the Industry 4.0 supervision unit and the Innova® family of large format digital printers.

In 2018, an internal development centre was opened, dedicated to the decoration of on-ceramic surfaces (glass, wood, plastic, bricks, cements, etc.), which allowed for the first products to be launched on the market in January 2019.

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SITI - B&T Group S.p.A. published this content on 21 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 January 2019 18:03:06 UTC