Ilpra completes acquisition 70 per cent Ilpra Rus

MILAN ( - ILPRA has completed the acquisition of 70% of ILPRA RUS. The purchase of this stake was made for a (symbolic) amount of approximately Euro 135, from Gianluca Montesano, currently employed by Ilpra, in the role of Operation Manager. "Today's acquisition - commented Maurizio Bertocco, Chairman and CEO of ILPRA - is part of the strategy of expansion in foreign markets, strengthening the presence in the Russian market, a strategic and fast growing market". OOO ILPRA RUS has been present on the Russian market for 3 years in the sale and assistance of industrial machinery for the packaging and sale of consumables. In 2018 OOO ILPRA RUS recorded a turnover of 109 thousand Euros, an EBITDA of about 15 thousand Euros and a negative Net Financial Position (cash) of about 140 thousand Euros.