Kastamonu Entegre, global player of the wood based panel sector and owner of 16 factories in the country and overseas, has acquired Italian Gruppo Trombini in May. This acquisition along with its last investment, places Kastamonu Entegre’s foreign investments to be more than EU800 million.
Gruppo Trombini was founded in 1962 at Ravenna in Northeast Italy. The company has two particle board facilities – one in Pomposa with a capacity of 480 thousand cubic meters annually and another in Frossasco with a capacity of 320 thousand cubic meters per year – totalling the annual to 800 thousand cubic meters. With the addition of the Italian market, Kastamonu Entegre aims to target 20% of the market share in the country and will start running these facilities in 2018.
The negotiations started in the first quarter of 2017 and Kastamonu Entegre’s CEO, Haluk Yildiz, 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 EU800 million”.
Yildiz also emphasised that with Italy at the center of fashion and design, it is the fourth big furniture producer of the world. “The size of the Italian furniture market is 20 million,” he said.
Furniture exports amount to about US$10 million. And as one of the biggest producers in the world, Kastamonu Entegre is proud to become a producer in Italy where they have only been exporting, Yildiz explained.
“We wish that this acquisition which will mark a new jumping point for our company, would be beneficial for our sector and our company,” he said.