A finish point that coincides with and important starting point. Last Monedy marked the end of the first day of trading for SICIT GROUP on Milan’s stock exchange. The company, which was created by the merger between SICIT 2000 and SPAC (Special Purpose Acquisition Company) SprintItaly, is an example of Veneto’s excellence which, “since 1960, via a hydrolysis process of the residue and waste originating from the tanning segment, has been making a product with high added-value used as in agriculture (as a bio-stimulant) as well as in the gesso segment (as a retardant)”. Tanning circularity jumps forward by entering the stock market, as repeated this morning, concluding a process that began over a year ago with a very specific goal in mind: giving SICIT an even larger chance to grow and projecting the business towards the same success that was achieved in the past. The market, given the immediate reaction at the beginning of the day, seems to have reacted positively to SICIT’s entry, a company in which UNIC – Italian Tanners has 2% ownership. The Arzignano-based company has recently published its 2018 financials, where it highlights how “2018 was an intense year”, with revenue of 55.1 million Euro and “confirming the growth trend for bio-stimulants and retardants for the gesso segment, which goes to substitute the poor performance of combustible fats as a result of price reductions”. As far as SICIT’s development plans go, it includes “the strengthening of its global leadership via the increase of production capacity in Italy and the extension of the business’ geographic reach at an international level, for example in Asia and the North American continent. The plan specifically focuses on the opening of a site in South America near a local tanning district”.
Circularity goes on the stock market: SICIT celebrates its first trading day
