Permasteelisa Group to Join Grandland
Worldwide leading contractor in engineering, project management, manufacturing and installation of architectural envelopes and interior systems, Permasteelisa Group, will join forces with Grandland Group – a fast growing, Shenzhen-based specialist in design and construction of architectural decoration. The strategic alliance will create the biggest, most comprehensive curtain wall player in the world, with exceptional potential for further growth for both companies. Permasteelisa will remain fully committed to build avant-garde architectures and top end, high-quality projects which have become its trademark.
The news comes today after LIXIL Group Corporation (LIXIL Group) (TOKYO: 5938) – a global leader in the housing and building industry – announced that it has decided to sell 100% of shares of Permasteelisa S.p.A., held by its major subsidiary LIXIL Corporation, to Grandland Holdings Group Limited (Grandland) for a base sale price of EUR 467 million.
The transaction is subject to customary closing conditions and regulatory approvals including in China, the United States and Russia. Permasteelisa will be managed as a separate business entity and its independence will be guaranteed by the new shareholder. Permasteelisa’s headquarters will continue to be based in Vittorio Veneto, Italy, where they have been since the incorporation of the company.
Known for its iconic, special features buildings, such as the Shard in London, the Apple Park, Apple’s new HQs in Cupertino, the Sydney Opera House and the International Commerce Centre in Hong Kong, Permasteelisa works worldwide to turn the visions of the best architects into reality, and has a history full of symbolic buildings that have changed the skylines around the world.
Permasteelisa Group has an annual turnover of approximately € 1.4 billion.
“Combining Permasteelisa’s position as a premium leader in the market and its scale across EMEA, North and South America as well as parts of Asia, along with Grandland’s industrial integration capabilities and strength in China, will create an even a bigger player in the curtain wall segment globally,” states Riccardo Mollo, Chief Executive Officer of Permasteelisa Group. “While Permasteelisa will maintain its operating independence, the opportunities for operating synergies with Grandland are tremendous.”
As part of the agreement, Mr. Mollo has been confirmed by the new shareholder in his role as CEO, and the rest of the top management have also been confirmed to retain their positions. These decisions allow Permasteelisa Group to spearhead future growth by reinforcing the passion for quality which has always been the distinctive trademark of the company.
Grandland is a high-quality, service-oriented architectural decoration enterprise that ranks #1 in South China, thanks to a fast-growing business portfolio. Based in Shenzhen, it generated sales of RMB 10.86 billion in 2016 and ranks among the top 500 Chinese brands under the architectural decoration category that influence the world. The company has recognized the superior reputation of Permasteelisa in setting the standard for the curtain wall industry due to its vision and commitment to state-of-the-art and high-tech products. The operations and footprints of both companies are complementary:
- The transaction will allow Grandland to differentiate its offering in the crowded and competitive curtain wall market, by leveraging Permasteelisa’s world-wide positioning as a premium market leader with a history of shaping some of the world’s most iconic skylines;
- Synergies with Grandland will create unique potential for Permasteelisa to better serve the entire Asian region;
- Grandland’s focus on the interior business will complement Permasteelisa offering in the niche.
“I am pleased that Grandland has acknowledged and embraced our business strategy. Upon completion of the transaction, we expect Permasteelisa to complete its ongoing turnaround process, while the journey to increased levels of solidity will continue,” Mr Mollo added. “We are also grateful to LIXIL for their support throughout the years and the way they handled the transition.”
About Permasteelisa Group
Permasteelisa Group is a worldwide leading Contractor in engineering, project management, manufacturing and installation of architectural envelopes and interior systems. The Group brings its Know-How and expertise to all projects, in particular when dealing with Special Features Buildings, beginning with the design development phases all the way to the successful completion, achieving the customer's expectations.
Today, Permasteelisa is a global integrated Group present in four continents with a network of over 50 companies in more than 30 countries, generating a total turnover of around 1.4 billion euro a year. The Group employs more than 6,500 people worldwide in its Engineering & Design centres and in the 10 manufacturing plants equipped with the most modern and advanced technologies.
The mission of the Permasteelisa Group is to design and build innovative and avant-garde architectural works alongside the world’s greatest in contemporary architecture, by using advanced technologies and eco-sustainable solutions. The quality of our architectural envelopes and interiors is guaranteed by our rigorous quality control system. Besides, it's constantly improved through R&D in new design and construction technologies and through the use of innovative materials. The use of environmentally friendly materials and eco-sustainable processes, as well as our commitment in energy saving, protect the environment and make the buildings themselves more comfortable and efficient.
Among Permasteelisa Group's projects are some world-renowned contemporary architectural works, such as the Sydney Opera House (the first building to make extensive use of the curtain walls), the Eight Spruce Street (a.k.a. Beekman Tower) in NYC, The Shard and 20 Fenchurch Street in London, the revolutionary Guggenheim Museum in Bilbao, the extraordinary Walt Disney Concert Hall in Los Angeles and the Museum of Modern Art in New York.
Grandland Holdings is the parent company of Grandland Group (SHZ: 002482), which is one of the leading companies specializing in design and construction of architectural decoration in China, the company provides a one-stop architectural decoration service to clients in curtain walls, landscape, connected devices, mechatronics, fire control, air-conditioning and water heating. Grandland serves every major developer in China, and the Evergrande Group is a key strategic partner of Grandland. Grandland Holdings had sales of RMB10.86 billion in 2016 and the company recognized as Top 500 Chinese brands (under architectural decoration category) that influence the World. Grandland's headquarters are in Shenzhen, China. Further information about Grandland Holdings is available at www.gtholdings.cn.
Massimiliano Fanzaga, +39 347 958 3056
Head of Communication Permasteelisa S.p.A.
Mauro Turcatti, +39 340 832 6620
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Tilaa tiedotteet sähköpostiisi
Haluatko tietää asioista jo ennen kuin ne uutisoidaan? Kun tilaat tiedotteemme tältä julkaisijalta, saat ne sähköpostiisi yhtä aikaa suomalaisen median kanssa. Tilauksen voit halutessasi perua milloin tahansa.
Lue lisää julkaisijalta Business Wire
OCP Announces Date of 2017 Third Quarter and Nine Month Results22.11.2017 19:59 | Tiedote
OCP S.A., a global leader in the fertilizer industry, will release its third quarter and nine month 2017 results on Thursday, November 30, 2017. The results will be available to holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers on the OCP Intralinks portal at 9 a.m. EDT and 2 p.m. Morocco/London time. OCP senior management will host a conference call to discuss 2017 third quarter/nine month results at 10 a.m. EDT and 3 p.m. Morocco/London time on Thursday, November 30, 2017 for holders of the Company’s bonds, qualified institutional buyers, securities analysts and market makers. Eligible parties that have not already registered for access to the Intralinks portal may do so by contacting the Investor Relations Department by emailing email@example.com. About OCP OCP is a global leader in the fert
Tata Motors Charts Out 'Connecting Aspirations' As Its New Corporate Brand Identity in Global Markets22.11.2017 17:46 | Tiedote
As part of the company’s transformation journey undertaken in 2016, Tata Motors commenced a comprehensive project to articulate its corporate branding. Basis a thorough analysis of the existing and the desired future state of the Company, Tata Motors has defined its new brand identity as ‘Connecting Aspirations’ across 46 markets, internationally. ‘Connecting Aspirations’, as the new defining maxim, represents the personality of the brand as an interconnected system of mobility solutions, that are intelligent, perceptive, warm and expressive. It’s a symbolic tagline that represents the company’s past, present and future. It is humble yet bold, a statement as well as a challenge. It will define the way Tata Motors communicates with its internal as well as external stakeholders, and work as an all-encompassing guiding principle across business units.” Speaking on the
NelsonHall Positions L&T Technology Services in the Leaders Category for IoT Services22.11.2017 16:50 | Tiedote
L&T Technology Services Limited (NSE: LTTS), a leading global pure-play engineering services company announced that it has been positioned in the Leaders Category by independent global research firm, NelsonHall in its latest NEAT evaluation for Internet of Things (IoT) services providers. LTTS is the only global pure-play engineering services to be positioned in the leader’s category. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171122005331/en/ L&T Technology Services Capabilities across IoT Services. (Graphic: Business Wire) LTTS has been identified as a leader relative to its peers’ due to its ability to meet future client requirements as well as deliver immediate benefits to IoT Services clients. Dominique Raviart, IT Services Practice Director, NelsonHall said, “L&T Technol
Smithers Viscient Europe Appoints Alasdair Clipston Director of Chemistry.22.11.2017 13:30 | Tiedote
Smithers Viscient, a global contract research organisation (CRO), announced the appointment of Alasdair Clipston to the role of Director of Chemistry. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171122005035/en/ Smithers Viscient Europe Appoints Alasdair Clipston Director of Chemistry. (Photo: Business Wire) Clipston joins Smithers with 15 years spent within contract research and testing organisations including AstraZeneca and Charles River. “Alasdair brings great knowledge and experience to our operational leadership team, particularly in residue and physical chemistry including five batch analysis.” said Steve Dean, Managing Director, Smithers Viscient Europe. Dean continues, “His skills and passion for science coupled with excellent client relationships and strong business unde
Mundipharma and APR Applied Pharma Research S.A Announce a New Alliance for the Distribution of Nexodyn® AcidOxidizing Solution in Africa and the Levant22.11.2017 13:30 | Tiedote
Mundipharma International Corporation Limited (Mundipharma) and APR Applied Pharma Research SA (APR) announce that they have signed a licensing, distribution and marketing agreement for Africa and the Levant Region for the innovative active wound cleanser Nexodyn® AcidOxidizing Solution AOS (Nexodyn® AOS), currently marketed in Europe, Turkey and soon available in Middle East countries. Mundipharma will have exclusive rights to the product in more than 35 African markets and countries of the Levant including Nigeria, Kenya, Egypt, Algeria, Lebanon, Jordan, Tunisia and Morocco. The first launches in these markets will begin in the incoming months following the registration and the obtaining of local authorizations for tariffs and refunds. The global advanced wound care market is expected to grow significantly in the next years as a result of the increasing incidence
The .eu Web Awards Shine Again in 2017 with the Announcement of the Winners22.11.2017 12:00 | Tiedote
Similar to each of the past 3 years during the month of November, the .eu Web Awards gala generates buzz within the .eu community and domain name industry as a whole. The annual .eu Web Awards, launched in 2014, is a competition where .eu and .ею websites have the chance to be nominated for an opportunity to win an awards package that adds credibility and visibility to their online activity. Of the 15 final nominees, a distinguished jury of European stakeholders chooses the best website in each of the Awards’ five categories. The #2017euWA winners were unveiled at the .eu Web Awards gala that took place yesterday evening at the Theatre du Vaudeville in the heart of Brussels, Belgium. The winners and the special commendations represent an eclectic group, and come from all over the European Union, including Bulgaria (Krina.eu), Latvia (Muniocandela.eu & Letthejourneybegin.eu), Sweden
Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.Tutustu uutishuoneeseemme