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TRANSCRIPT
Hi, I’m K. Schipper with the latest in hard surfaces industry news from Radio Stone Update.
0:31
Pesaro, Italy-based Biesse S.p.A. announced it will acquire the worldwide assets of the GMM Group in a 72-million-euro cash and debt-assumption deal. The deal, announced Dec. 21, includes fabrication manufacturers GMM S.p.A., Bavelloni S.p.A. and Techni Waterjet Ltd. The sale is expected to finalize Feb. 15.
GMM Group, founded in 1993 in Gravellona Toce, Italy, has products installed in 90 countries. It operates six production plants in Italy and one in Thailand. It employes more than 450 people. The sellers are Consilium Private Equity Fund III, which holds 75 percent of the company, and FGL Holding, which makes up the other 25 percent of shareholders.
GMM Group’s consolidated returns for 2022 showed sales of 124 million euros and adjusted earnings of 12.5 million euros. Results for 2023 are expected to be in the same range. According to a statement from Biesse, the transaction aims to develop external growth and increase the portfolio generated by machines for processing stone, glass and other materials by integrating the company’s technologies in these specific segments.
GMM began as a bridge-saw manufacturer for the stone industry and expanded into edge polishing machinery and CNC-based cutters. It acquired a minority share of polisher-manufacturer Cemar SRL in 2007 and full ownership in 2013.
GMM added Techni Waterjet in 2018 and acquired a majority share of stone and glass processing-machine manufacturer Bavelloni in February 2022. Biesse manufactures integrated lines and machines to process wood, glass, stone, plastic and composite materials, with its current lineup including Intermac and Montresor machines and Diamut tooling.
Charlotte, N.C.-based Biesse America Inc., accounted for 68.2 million dollars in sales and service revenue for the company in 2022. Founded in Italy in 1969, Biesse S.p.A. is listed under the BSS symbol in the Euronext STAR segment of the Italian Stock Exchange.
03:02
Caesarstone will close its quartz-surfaces plant in Richmond Hill, Ga., this month as the company moves to outsource more of its worldwide production. Yos Shiran, Caesarstone CEO announced the closure in a statement in mid-December.
In the release, Shiran stated that the company’s manufacturing network began restructuring in early 2023, and the transition will allow it to streamline its operations while better serving its customers. In November, the Israeli surfacing company told Wall Street analysts that it would have 50 percent of its products produced by other companies.
The plant opened in May 2015. Caesarstone estimates it will save approximately $20 million annually by “optimizing its manufacturing footprint.” The company will declare a one-time non-cash impairment of $45 million to $55 million during the fourth quarter of 2023, with cash costs of $3 million to $5 million this year.
05:15
Marissa Bankert is the new executive director of the International Surface Fabricators Association – the ISFA. The former executive director of the Independent Electrical Contractors of Pennsylvania, Bankert is recognized as an innovator in continuing education, apprenticeship and workforce development.
In a release, Bankert said she’s delighted to join and lead the ISFA team. She said, “The association is positioned to achieve amazing things in the coming years and I look forward to building upon its foundational successes.” She also lauded members’ enthusiasm for the entire manufactured surfacing industry.
Bankert is the immediate past president of the central Pennsylvania chapter of the National Association of Women in Construction and on the board of Partnership for Career Development as well as working on committees for various workforce development organizations.
At IEC she was credited with increasing the organization’s membership, engagement, funding, reach, staff and partnerships, as well as implementing new governance and policy and creating a pre-apprenticeship program for high school students.
Austin Maxwell, ISFA immediate past president, says Bankert comes to the organization with a wealth of knowledge and expertise that will drive growth and opportunities for the association. Bankert replaces Nancy Busch, who resigned last August.
06:46
Toronto-based King Tile and Construction Ltd. Is expanding into the U.S. market by unveiling leadership and installation teams. King Tile announced plans to open locations throughout the southeastern United States in 2024, along with other regional partners opening in conjunction during that same time period.
King Tile is one of the oldest firms in North America exclusively focused on the fabrication and installation of porcelain slabs in both residential and commercial applications. King Tile CEO Clint Watson plans to bring his porcelain-slab business model to others through the expansion.
Based in Raleigh, N.C., the U.S. operation will be managed by Nathan Parsons, who has a background in stone countertop fabrication. Parsons has worked with porcelain since 2014. Parsons notes that many business owners don’t have the money to invest in a massive operation. The goal of King Tile is to provide the right machinery and training to attract the best people to the market.
Says Parsons, “We present a business model that doesn’t extend your overhead to cap your ability to sell. Twenty twenty-four is going to be the year of porcelain slabs. The interest level from business owners, installers and customers has been remarkable.”
Parsons concludes by noting that with Australia and California reacting to silicosis exposure, porcelain presents a tremendous opportunity for business growth. For more information, about King Tile, contact Parsons at Nathan@kingtile.us, or info@kingtile.ca.
08:27
The Stone Industry Education series announces its 2024 schedule of nine Stone Summits throughout the United States.
All sessions are led by industry leaders and cover a wide range of topics important to fabricators, including stone shop management, business diversification, and ways to increase efficiency. The one-day sessions are scheduled from 8:30 a.m. to 3 p.m. Mornings include presentations on a specific topic, while afternoons feature breakout sessions.
The schedule begins Feb. 15 at Marble of the World in Pompano Beach, Fla. Other sessions are set for Pacific Shore Stones in North Hollywood, Calif., on Mar. 7; Triton Stone Group in Birmingham, Ala., on April 4; Architectural Surfaces in Jamesburg, N.J. on May 9; Architectural Surfaces in Denver on June 6; UGM Surfaces, Oak Creek, Wis., on July 11; MSI in Columbus, Ohio on Sept. 19; MSI in Kent, Wash., on Oct. 10, and, rounding out the year, Nov. 7 at Arizona Tile in Dallas.
The Stone Industry Education series is produced by the Natural Stone Institute and Stone World magazine. For more information about events, speakers, and sponsorship opportunities, go to www.stoneindustryeducation.com
In other news around the industry …
10:02
The Natural Stone Institute announced that longtime natural-stone industry leaders Kim Dumais and Alexandra Niedbalski will join the NSI board of directors during the board meeting at StonExpo. Both were elected this past fall. They will replace Jonathan Mitnick and Buddy Ontra on the board.
Dumais has been the sales and logistics manager of Miller Druck Specialty Contracting Inc., in New York for the past 27 years, and has been in the industry for 34 years. Miller Druck specializes in commercial fabrication and installation. Dumais served as chair of the Women in Stone initiative in 2016-2018 and as a steering committee member for the group since its inception.
Niedbalski has 19 years’ experience in the stone industry at Polycor, the world’s largest natural stone company. As an owner and part of the senior management team, she gained extensive knowledge in both residential and commercial sectors. Her passion lies in promoting and branding natural stone, especially among young professionals, distributors, fabricators, and architects.
11:12
M S International Inc. – MSI –opened a new Las Vegas showroom/distribution center last month. The facility spans 170,000 ft2 and is designed to serve both residential and commercial clients in the greater Las Vegas area and surrounding communities.
The 10,000 ft2 showroom is one of the largest in the area and features a full range of products from wall and backsplash tile to decorative mosaics and hardscaping products. With space for 10,000 slabs, the warehouse features a selection of quartz, quartzite, marble, granite, and other natural stone materials, including MSI’s Arterra® Porcelain Pavers and Q™ Premium Natural Quartz.
11:57
And, The National Tile Contractors Association – the NTCA – announces the appointment of Elena Grant as assistant executive director of marketing, communications and public relations. Grant has more than 20 years experience leading marketing initiatives, programs, and operational enhancement strategies.
Among her previous positions, Grant served as vice president of marketing and program at Taffy Event Strategies, where she worked closely with industry leaders to promote attendance and deliver content at Coverings, the largest tile and stone trade show in North America. In her new role, Grant will become publisher of TileLetter magazine and oversee all print and digital communications, as well as supporting the Ceramic Tile Education Foundation. She can be reached at Elena@tile-assn.com.
Remember, our electronic newsletter, Slab & Sheet, comes out on alternate Wednesdays. For a transcript of this broadcast, go to www.radiostoneupdate.com. For Radio Stone Update, I’m K. Schipper and we’ll see you here again soon.
