Manteco has inked a significant deal in the beginning of 2024. The Prato-based Italian textiles producer, based in 1943, has acquired a 100% stake in Casentino Lane, a carding spinning specialist situated within the Casentino area of Tuscany, a nationwide park and UNESCO World Heritage web site, famend for wool manufacturing because the 14th century.
“We’re extraordinarily proud to have the ability to protect this long-standing, ultra-specialised carding spinning manufacturing facility, one we have now labored in partnership with for a few years, and with which we have now – proper from the beginning – shared the identical ardour for innovation and analysis, at all times placing sustainability and a round strategy centre-stage,” stated Matteo Mantellassi, joint CEO of Manteco.
The acquisition, on account of which Casentino Lane’s 27 expert employees will retain their jobs, allows Manteco to grasp in-house a key stage of its material manufacturing. Casentino Lane will assure Manteco an annual yarn output of roughly 700,000 kg.
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“We have now concluded a extremely vital operation that places at our disposal a top-notch provider, however that is solely step one. The manufacturing facility – which extends over greater than 4,000 sq. metres – would be the object of main investments when it comes to sustainability and innovation,” stated Marco Mantellassi, joint CEO of Manteco.
In 2022, Manteco reported a income of €97 million, up 18% over the earlier yr, and better than its income in 2019, earlier than the pandemic. The corporate generates some 80% of its enterprise exterior Italy, notably in the remainder of Europe (mainly in France, Northern Europe, and Spain) and the USA.
