Clabo Group announced the opening of a manufacturing plant in China, 150 kilometres from Shanghai. The new plant is expected to open by the end of 2015 and will initially produce for the US market. The investment was announced after a meeting with the Chinese authorities in Suzhou, Jiangsu Province, and the leaders of the Suzhou Industrial Park.
Clabo is an Italian Group that specialises in the production of refrigerated showcases and furniture for the food retail market. The company is listed on the AIM Italy – Alternative Capital Market of the Italian Stock Exchange.
Clabo’s customers include worldwide brands such as: Nestlè, Haagen-Dazs, Grom, Puro Gusto, Eataly, the US White House, Google Campus and Walt Disney amusement parks. Clabo’s product range includes 1,100 models with different equipment, accessories and colours characterised by sophisticated design and technology.
In 2013 the company set up its own trading company in China, Clabo Shanghai International Trading, with a sales office, after-sales service and a logistics platform.
Clabo’s investment for the new plant is estimated to be around €3m and the company has also involved Simest, an Italian limited company controlled by Cassa Depositi e Prestiti that could fund the investment required in share capital (up to 49 per cent).
In 2014 Clabo’s exports exceeded national sales. The Group business development plan includes the opening of new production plants in Asia and Brazil.
Clabo revenues in the first half of 2014 were €18m, the financial statement for the first half of 2015 will be released in September. EBITDA in the first half of 2014 was €3.1m with a net profit of €1.2 m.
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