Good results in 2014 and further growth for Itema SpA, a leading global provider of advanced weaving solutions, situated in Colzate near Bergamo in the north of Italy. “Already in 2013 the results were spectacular”, informed Itema proud about the excellent performance in 2014. Despite the severe decline in global weaving machine demand, Itema sold in the first six months of 2014 12% more weaving machines compared to same period last year, increasing the Group turnover by 10%. "The first half of this year produced some rather positive and encouraging results," announces Carlo Rogora, CEO of Itema. "Our progress continues on from the boost in 2013 (+50% vs. 2012). This result is, for us, even more remarkable considering that the global weaving machine market declined significantly since the last months of 2013, a fact also confirmed by statements from other industry players.” The highest improvement in performance comes from the Indian Subcontinent, in particular from Itema India after the major turnaround actions implemented in the first three months of 2014.

Less satisfactory results so far come from China and from the airjet weaving machine sales, both due mainly to a significant slowdown in the Chinese weaving machine market. In March 2014, Itema renewed the existing Company’s presence and investment in China with the Grand Opening of Itema China new premises in a highly efficient and modern establishment in Shanghai.

Furthermore, Itema launched two new avantgarde airjet models - the A9500p and the A9500e - and two new rapier weaving machine models - R880DT and R9000- at ITMA ASIA in Shanghai, thus confirming itself as leading market innovator. All new market launches were greeted very positively by Customers.

The rapier R9500 model continues earning well-deserved accolades worldwide. Launched less than 2 years ago, the weaving machine reaches a new pinnacle of success achieving 50% of all Itema weaving machines sales (compared to 30% in 2013) and establishing itself as the all-times best-seller.

An impressive comeback this year is the Spare Parts Business. “We are particularly pleased by the turnaround performance of our Spare Parts Business Unit, created only one year ago.

Itema is a leading global provider of advanced weaving solutions, including best-in-class weaving machines, spare parts and integrated services. The Company is the only manufacturer in the world to provide the top three weft insertion technologies: rapier, air jet and projectile, with an ample product portfolio and a commitment to continuous innovation and technological advancement of its weaving machines. The cash flow is about 14 Million Euro.

www.itemagroup.com

Ingrid Sachsenmaier