This operation is, for Italian tanners, “proof of our trust in the future of the segment”. For Sicit, this is “an important endorsement” in favor of “our green entrepreneurial model”, which has started the “business combination” process that will allow the entry of Sicit “onto the AIM Italia stock exchange” (small caps).
UNIC – Italian Tanners, “through its subsidiary Lineapelle S.r.l. – reads an official statement -, has acquired a quota of SprintItaly, which will acquire Sicit via merger operation”. UNIC/Lineapelle becomes owner of part of the company’s capital, with a share of about 2% and a 4 million-euro value. It is an investment that, as explained by UNIC’s president Gianni Russo, “is proof of our trust in the future of the segment, as well as being a core part of the strategic goals of the association, influential and vigilant travel companion to Italian tanners during their journey towards the continuous development of their sustainability practices, with always-larger investments”. This is a way, then, to add value to the excellent and strategic circular dimension of Italian tanneries, which for the business “represents an important endorsement for Sicit’s green entrepreneurial model – states Massimo Neresini -, which makes us proud and can only re-assure the financial markets with regards to the goodness of their investment. Moreover, this decision testifies the quality of the work we have done throughout the years, which has allowed us to further strengthen our presence on international markets”.
Sicit, founded in Arzignano in 1960, “creates a product with high added-value through a hydrolysis process which treats residues and leftovers of the tanning industry”, destined for the agriculture industry as a bio-stimulant and as a retardant in the plaster segment. Sicit is completing its merger with SPAC (Special Purpose Acquisition Company) SprintItaly: An operation worth 100 million euro that will allow the acceleration of the company’s strategic development plan in Italy and abroad, the expansion of the R&D lab and the construction of a new production site in South America”.