Rome - Italian fitness equipment manufacturer Technogym is contemplating a stock market launch in Milan. On Monday, Technogym founder Nerio Alessandri spoke of the potential listing as “natural development process” in concordance with the company’s growth and structuring.
An assessment study was conducted analyzing all possible ways to make a stock market launch happen. Alessandri rules out taking on a partner to foster Technogym’s international growth. “We have not had positive experiences with moving in that direction” , states Alessandri.
Together with the US based companies Lifetime and Precor, Technogym is one of biggest manufacturers of fitness equipment worldwide. Located in Cesena, Italy the company employs 2200 people across 14 worldwide subsidiaries and reports an annual revenue of 470 million Euros. Roughly 90% of sales are generated through exports and the company has grown significantly in the USA, Japan, France and Spain.
Through the Leonding based distributor Fitness Company, Technogym offers its products in Austria. According to their own records, Fitness Company is the market leader holding between sixty and seventy percent market share.
Source: APA
Published on: 2 March 2016