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Kastamonu Entegre acquired the Italian Gruppo Trombini and will be producing in the heart of the global furniture sector…
Kastamonu Entegre, the global player of the wood based panel sector, owner of 16 factories in the country and overseas, is preparing to add Italy to its production map as the result of the investment made in May. Together with this last investment, Kastamonu Entegre’s foreign investments exceed 800 million Euro in total.
Kastamonu Entegre purchased Gruppo Trombini, founded in year 1962 at Ravenna in the Northeast of Italy which had two particle board facilities, one at Pomposa with a capacity of 480 thousand cubic meters per year and another one at Frossasco with a capacity of 320 thousand cubic meters per year , making in total a annual capacity of 800 thousand cubic meters. Kastamonu Entegre, whose target is to get a 20% market share in Italy, will start running these facilities in year 2018.
Kastamonu Entegre’s CEO, Haluk YILDIZ, who pointed out that the purchasing negotiations had started during the first quarter of year 2017, said : “ We continue to increase our global scale production capacity. By having purchased the third largest particle board producer of Italy, we have added Italy to our investments in Romania, Bulgaria, Bosnia- Herzegovina and Russia. Hence, our foreign investments reached a total amount of 800 million Euro”.
YILDIZ, who emphasized that Italy, the center of fashion and design, is the fourth big furniture producer of the world, said : “ The size of the Italian furniture market is 20 billion
US Dollars and the amount of furniture exports is about 10 billion US Dollars. As one of the biggest producers of the world, we are proud of being a producer in Italy where we have been exporting until now . We wish that this acquisition which will mark a new jumping point for our company, would be beneficial for our sector and our company.”