The Italian company Finvetro has agreed to acquire a majority shareholding of Uteco Group, a major producer of flexography and converting machines for printing. Finvetro will acquire 60% of Uteco Grou…
The Italian company Finvetro has agreed to acquire a majority shareholding of Uteco Group, a major producer of flexography and converting machines for printing. Finvetro will acquire 60% of Uteco Group, with 40% remaining in the hands of the family of the founder, Giovanni Freddo, as well as some other minority holders. Capitalisation should increase from 6 to 17 billion lire. Uteco is a major producer of printing machines. Last year its turnover was 150 billion lire primarily in USA, Australia and Europe. They have plants in Italy, Brasil, France and Egypt Finvetro has plants in Italy and Austria where it produces glass lens for headlights.