Italian woodworking machinery manufacturer Biesse has set a three-year target to be among the leaders in European door and window production technology.
The company served notice of its intentions at the Biesse Inside exhibition and conference (October 8-10) held at its Pesaro base.
A new chief executive – Giovanni Barra – was also introduced along with a multi-million euro share buy-back programme and a new Winline range of machinery, designed to provide integrated modular solutions for special doors and windows, whether the manufacturer is a small craftsman enterprise or large joinery company.
Biesse said it wanted its doors and window technology business to imitate its success in the panels field. Luca Tenti, Biesse door and windows technology manager, said the company had worked in partnership with several European window and door producers in designing its Winline range.
Chairman Roberto Selci predicted earlier this year that the worldwide recession would result in an acceleration of technological development. He said transforming Biesse into a lean organisation would go hand-in-hand with increased focus on technical solutions.
Biesse will buy back 2.25 million shares to increase its shareholding to 10% of the company, a move it said would enable it to intervene in the market to improve liquidity of Biesse shares, especially in times of extreme volatility.
“I believe [the share buy-back plan] should be considered a continuation of the programme that ended last July and carried out in conjunction with an improvement in our net debt and in the economic and financial outlook for the group,” said Mr Selci.
Biesse’s new CEO Giovanni Barra formerly worked at Fiat and Iveco.
