Italian rubber parts makers Argomm and Gapi announce merger

Bergamo, Italy – Italian rubber parts makers and sealing solutions specialists Argomm Group and Gapi Group have announced a merger plan to strengthen market position and international competitiveness.

The two Bergamo-based companies have “complementary” technology that will allow them expand range of products and services, optimise operational synergies and improve efficiency, said a joint statement 29 Jan.

Post-merger, the industrial group will have a consolidated turnover of €220 million, a workforce of 1,745 employees operating in 20 production sites and 5 logistics centres, across 11 countries.

“We have decided to join forces in a moment of stability to grow and strengthen our market presence,” said Ercole Galizzi, president and CEO of Argomm Group.

The move, he said, will create an industrial group “capable of tackling global challenges with a long-term vision of sustainability.”

“It is a strategic choice with a long-term perspective, built on solid foundations and a shared vision,” added Roberto Galizzi, president and CEO of Gapi Group.

The closing of the operation is expected in June. In the meantime, the two groups will collaborate to structure the integration process.