Targetti news - FINANCE - Targetti Group: The Group purchases a plot of land where its new offices will be located

The purchase of approximately 70,000 square meters of land for the price of € 5.9 million (€ 0.5 million of which had already been paid) was finalized today. The plot of land, which is located in the Municipality of Campi Bisenzio (FI), was purchased to host the Group’s new central offices, where a large portion of logistical and production activity that is currently spread out over various branches will be centralized.

The new production facility, which will be built in the area, will allow the Group to improve efficiency and obtain greater synergy, especially logistical, for its activities; in addition, the facility will make use of cutting-edge process technologies.

The construction of the new facility is estimated to cost a total of approximately € 30 million over three years, including the cost of the land, the buildings, and the equipment. Completion of the project is slated for 2008, although the first production units will be operative at the end of next year.

The new offices, which will employ more than 400 people, will include, among other things, a high-tech logistics center, cutting-edge production equipment for the treatment of optical surfaces, and advanced R&D laboratories managed in cooperation with the Engineering Department of the University of Florence, where a new goniophotometer - a device that measures the distribution of emitted light - will be created.

“This is a very important step for the Group,” said Lorenzo Targetti, Chief Executive Officer of Targetti Sankey, “since the company’s growth over the past years has made it necessary to have a suitable structure, which was also conceived to sustain our goals for development.”

“We plan to obtain considerable advantages from the rationalization of our activity," continued Targetti, "which will be located in an industrial park that is home to important development, and we hope that we will be a point of reference for the area."

The Targetti Group is one of the European leaders in the sector of interior and exterior lighting, A network of nine highly specialised companies, it draws its strength from its long history and from its natural talent for research, Thanks to its perfect blend of technology and design, Targetti equipment lights universal masterpieces of art such as Michelangelo's David, Leonardo's Last Supper, and the Notre Dame Cathedral, and is used in a wide range of environments: the Singapore Opera House, Madrid, Canton, and Paris airports, the Bulgari, Benetton, Celine, Diesel showrooms, the Formula 1 McLaren boxes, corporations such as Peugeot, Citröen, and Alfa Romeo, the world's most prestigious hotel chains, and over 4000 large and small urban environments, all places where light,,,means Targetti,