Establishment of Verinlegno Holding. Joint venture with CanLak in USA and International Unique in India to grow in strategic markets.
market information

24 September 2014

Establishment of Verinlegno Holding. Joint venture with CanLak in USA and International Unique in India to grow in strategic markets.

Verinlegno Holding derives from the need of Verinlegno Spa to put down roots on strategic areas of international market. Verinlegno Spa, founded in Massa e Cozzile in 1975 and always at the highest qualitative levels in the manufacture of coatings for wood, strengthens its presence through a corporate rationalization leading to the incorporation of Verinlegno Holding.The new company consists of Verinlegno, Verylak and Woodver.
The development path of Verinlegno, which has always been characterised by a strong national roots thanks to the commitment and tenacity of Piero Marchetti – one of Verinlegno’s founding member together with Sante Zandò and Antonio Bartoli – is now focused on the activities carried out abroad by Sante Zandò with structures that can support them over time.The first actions affect two market with different characteristics: India, a rapidly growing emerging giant on the one hand, on the other USA, a mature, established and stable market..
In India, the contribution of Verinlegno know how will allow the partner company - Unique International (New Delhi) – to improve the quality of its medium range paints (using Verinlegno’s technology).
Unique International, as well as having its own range of paints, is already a distributor of Verinlegno high quality products. The Agreement does not provide for any outsourcing. Production remains in Italy. The goal is to become relevant actors in the distribution of paints and varnishes .
To this purpose, Woodver (www.woodver.in) - result of the joint venture between Verinlegno and Unique International - is already operative in the state of Delhi and in the north west India.
In USA, Verinlegno Holding will cover the typically Italian segment of technology of high performance paints.The aim is to create a commercial organization having the capacity to take root in the territory without running the risk of expulsion from the market at the first difficulties or at the first actions of competitors.
The result of the joint venture with the client-partner CanLak of Daveluyville, Québec, will be the company Verylak which will be fully operational at the beginning of 2015 but significant steps have been taken during the Fair of Atlanta held at the end of August, which hosted both companies with stands highly representative of the two business realities.
CanLak (www.canlak.com) will continue its production destined for Canada, which uses American technology. Verinlegno will be responsible for the production of high performance paints.
The medium-term objective of Woodver and Verylak is to achieve a total turnover of approximately 10 million euro. The three companies, Verinlegno Verylak and Wooder have a number of employees exceeding 200 units.
The basic idea of Verinlegno Holding is to move vertically on the international market, by streamlining and widening the relations established previously with its long-term partners, as was the case of Unique International, Verinlegno’s partner for over 12 years and CanLak, whose collaboration with Verinlegno is more recent..
For more information:

Verinlegno Spa
Via L. Galvani 7
I-51010 Massa e Cozzile / Pistoia / Italy
Tel. 0572 927120
E-mail: quality@verinlegno.it

http://www.verinlegno.it