Sira Group S.p.A. strengthen its position in China

22 January 2009

Sira Group s.p.a. has acquired the 23,60% participation into the Tianjin Sira Aluminum Products Co. Ltd of Jinghai, quota previously detained by the Tonghai Aluminum Co. Ltd.: the buyout has been effected by Sira Group through its controlled company (WFOE) Sira Tianjin Heating radiators Co. ltd of Jixian.
The deal demanded an investment of 23.000.000 yuan, realized through the Group`s own financial means.
The whole operation - already accepted by the MOFTEC - has driven to this new company structure:

Sira Group S.p.A. 40,4%
Simest S.p.A. 36 %
Sira Heating Radiators Co. Ltd. 23,6%.

The operation - setting a course altering of the original plans - has been motivated by the huge changes into the global financial and industrial arena: through it the Sira Group marked as more and more important into his global assets - above all in a prospective view - the ones located in the Peoples` Republic of China.
The message to the market it`s crystal clear and follows a vision of full and complete integration of each factory into the Group`s internationalization planning.


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