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Somet Savio And Vamatex Merge North American Operations

Somet, Savio And Vamatex MergeNorth American OperationsVamatex of America and Somet of America, Spartanburg, S.C., both weaving-machine manufacturing companies owned by Italy-based Radici Group, have announced an operational merger in the North American market.These two companies are also being merged with Spartanburg-based American Savio Corp. All three companies are now operating as one unit, which will further ensure future financial stability and market growth.The newly formed company will be called Promatech. Nikolaos Perackis, who resides in Italy, has been named one of the two commercial directors and will be responsible for Vamatex S.p.A. and Somet Weave Tech in the Americas. Rino Morani continues as Commercial Director for Savio S.p.A. in Italy. The chairman of the new combined company is Danilo Arizzi.This consolidation will allow us to better concentrate our resources in research and will facilitate the development of new technologies to add to our already impressive line of high-speed, high-quality weaving machines, said Harold Hoke, CEO, Somet of America Inc.Promatech will provide further details of the merger in the near future. (See Radici Refocuses, TI, this issue). April 2001