MESSAGE OF THE CEO

Following a remarkable five-year period in which Itema Group has doubled the sales of our weaving machines with consecutive, double-digit growth per annum, our Company is now ready to strengthen the technology leadership position, to quicken the pace of expansion and to accelerate our global reach through targeted acquisitions.

We chose Lamiflex and NoeCha due to their forward-thinking missions and innovative approaches, which perfectly match our dedication to supply top-performing, advanced machinery. Combining our strengths, we will no doubt reach new heights of success in the development and manufacturing of innovative, highly technological products. Itema will guarantee to Lamiflex and NoeCha Customers worldwide a structured organization, based on lean manufacturing concepts in its world-class production sites and on a global network of agents and distributors. We are confident that this first round of acquisitions will act as an important launch-pad for our diversification strategy and will bring positive results in the nearest future, creating significant synergies and adding value for our Customers and Shareholders.

Headquartered in Ponte Nossa, Bergamo province, Lamiflex specializes in composites materials, such as carbon fiber, glass fiber and Kevlar and offers a portfolio of innovative solutions and patented new products with exceptional versatility and adaptability for industrial applications, catering to industries as wide-ranging as weaving machinery, medical and aerospace, among others.

NoeCha, also Bergamo-based, is a quickly-scaling-up young company which offers high-tech printing solutions, such as the revolutionary wide-format industrial UV-LED flatbed digital press, the NoeCha ONE, for photo-realistic, high impact graphics. NoeCha ensures excellent printability on different type and size of material up to 3.2 × 2 meters at production speeds with a native 600 dpi × 600 dpi image resolution.

Itema Group’s move is set to create and stimulate significant synergies along the respective supply chains in which Itema, Lamiflex and NoeCha, as well as RadiciGroup companies operate and to grow not only in the textile machinery sector, but also to expand into new, highly innovative sectors, such as composites, and thus, together, be much more competitive than otherwise possible individually. These acquisitions will lead to optimizing processes and improving product performances, as well as providing advantages derived from a shorter, more sustainable supply chain, lessening the environmental impact of the joint operations, in line with the principles of a circular, greener economy.

Carlo Rogora, Itema Group CEO