CEFLA and RASEC JOIN FORCES IN RUSSIA

CEFLA, the leading Italian manufacturer of shelves for large (food) supermarkets, and RASEC, the French leader in till checkouts and equipment for large scale DIY outlets, announce the signing at the EUROSHOP Fair in Dusseldorf of their agreement for the setting up of an industrial joint venture in Russia.

Based in Tver (180 km from Moscow), a city where the RASEC GROUP has already opened a plant since 2005, this new industrial unit (ca. 20,000 sqm) is intended for the manufacture of the whole range of products as necessary for the equipment of large supermarkets in Russia : Display shelves, Till Checkouts & specific furniture.

It will thus allow the two partners to offer their clients a whole range of specific equipment and services.

After ratification by a General Meeting of shareholders, CEFLA and RASEC will each hold 50 % of the new entity. The European Bank may join them presently.

'The Russian market is expected to grow very quickly in the field of mass marketing of food and DIY goods, and we can no longer remain competitive by shipping our products from Italy. We must be present locally. Our choice to step into this fastest growing market in our line of business in Europe is a strategic one', says Giovanni Scarlini, General Manager of CEFLA.

'This partnership represents for RASEC a great leap forward in our Conquest of the East. We shall be the first Westerners to make a global offer locally available to all chains of stores' says Patrick GENTIL, CEO of RASEC GROUP.

CEFLA, an Italian group based in Imola has a turnover of 360 M€, of which 80 M€ in its shelves business. It has a staff of 1,500. CEFLA has had a turnover of  9 M€  for 2007 in Russia.

RASEC, a French group specialized in the equipment and fitting out of sales and work environments, has a turnover of 110 M€ for a staff of 700. Established in Russia since 2005, it had in 2007 a turnover of 10 M€ in the country, with a 4,000 sqm industrial site. RASEC also has plants in France, Spain and Poland. Another one is to open soon in the Ukraine.