UNIC – Concerie Italiane invests in the circular economy of SICIT

UNIC – Concerie Italiane, the most important and organised association in the tanning sector worldwide, through its subsidiary Lineapelle S.r.l., acquired a stake in SprintItaly, which it will incorporate through a merger SICIT, with consequent admission of the latter to the multilateral trading system AIM Italia of Borsa Italiana. The stake held by the UNIC-Lineapelle Group should be around 2% of the voting share capital of the post-merger company.

Today, UNIC represents about 1,200 companies, with a total of about 18,000 employees and a turnover of about 5 billion Euros, 76% of which for export. The Italian tanning industry is an historical and consolidated example of circular economy, as it removes a large quantity of waste from the slaughtering industry (animal remains), significantly reducing the environmental impact, creating an high-added product with technical characteristics and performance of the highest level, maintained over time.

Gianni Russo, Chairman of UNIC – Concerie Italiane and Lineapelle, said: “The acquisition of a stake in SICIT is a proof of our confidence in the future of the sector and is fully in line with the strategic goals of the association, authoritative and attentive partner of the Italian tanneries in their path towards a continuous development of sustainability, with increasingly investments“.

Massimo Neresini, CEO of SICIT, added: “The investment of UNIC – Concerie Italiane represents an important endorsement of SICIT’s green business model, which makes us proud and can only reassure the financial markets about the quality of their investment. Moreover, this decision also proves the quality of the work we have done over the years, allowing us to further strengthen our presence on international markets“.