(Alliance News) - Gentili Mosconi Spa announced Monday that it has finalized the acquisition of 70 percent of Tintoria Comacina, a historic company in the province of Como.

The deal is the first acquisition scored by Gentili Mosconi and confirms the growth and integration process announced a year ago when it was listed on the stock exchange, aimed at creating a central hub of synergies by internalizing skills and crucial phases of the production process.

A company of excellence in the Como area, Tintoria Comacina fully responds to these objectives and joins the group while maintaining its DNA and independence as a contract dyehouse serving the territory and the market. T he operation also responds to Gentili Mosconi's goal of preserving the entrepreneurship and craftsmanship of local businesses, in the logic of protecting their know-how, professionalism and centuries-old Como textile tradition recognized throughout the World.

Shareholders Angelmaria Bianchi and Paolo Maggienga will hold 10 percent and 20 percent, respectively.

Gentili Mosconi's stock is up 2.6 percent to EUR3.57 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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