Parigi to become member of the Neoperl Group

Monza, Italy and Basel, Switzerland

Parigi Group International spa (PGI) and Neoperl Holding AG (NP) today announced that they have entered into a transaction whereby NP will purchase the shares of Parigi Industry srl (PIND). The transaction is expected to close by end of August 2014. As privately owned companies both have agreed not to disclose further details of the agreement.

Laura Parigi, President of the Board of PGI and Parigi Industry srl:
“After nearly forty years of an increasingly close collaboration with the Neoperl group, this is the next logical step for Parigi. Fabio Riboldi, co-owner of PGI, and I are excited to join the management team of NP’s hose business. As part of NP's global network we will be able to much better leverage our experience and expertise in developing and manufacturing high-quality hoses. Our manufacturing capacities will profit from NP's strong innovation capacity and global sales network.”

Dr. Adrian Walti, President of the Board Neoperl Holding AG:
“We are proud to integrate Parigi Industry srl, one of the pioneers of braided flexible hoses and a quality leader in its field, into our global hose operations. It significantly strengthens our position in the Italian market, one of the driving forces of global faucet technology and design development. Building on Parigi’s industrial heritage, it is our ambition to convert the current manufacturing base to NP’s revolutionary new hose technology. With Laura Parigi, Fabio Riboldi and their seasoned team, we add great personalities and professional talent to our global hose team. Following our recent acquisition of Industrias Mateu S.A., this marks another significant step in further developing our global hose business.”

If you have any questions please refer to your Neoperl contact.