“We are in the third chapter of the story that links SIT to Rovigo, a development carried out consistently from the moment in which the founders Pierluigi and Giancarlo de' Stefani believed in this area. Our investment aims to lay the foundations for the further growth of the company, making Rovigo a hub capable of increasingly serving international markets as well. The new layout of the site will also encourage ever greater efficiency of the production processes and product distribution”, with this statement Federico de' Stefani, President and Chief Executive Officer of SIT, a company active in the production and marketing of components for domestic gas appliances, announced the development and expansion works of the Rovigo production sites, the most important for the company.
The production heart of SIT has been in Rovigo for over 30 years and includes a technological center for aluminum die-casting, mechanical machining and the production of electronic gas sensors and meters and a plant for the automatic assembly of gas valves.
The company closed the first six months of 2018 with a consolidated turnover of 175,4 million, an increase of 17,6% compared to the first half of 2017 and a net result of 8,4 million, thanks to the contribution of both business of which Heating and Smart Gas Metering is made up and to the favorable trend of international markets, especially the European ones.
The company's official note also states that in 2018 investments of 20 million will converge on Rovigo, while a further 5 are planned for 2019 for a total of 25 million.
While the logistics center is already operational, it is estimated that the works relating to the Workshop will be completed by the end of the year with concrete benefits on SIT's production capacity as early as the first few months of 2019. The company also estimates that the acquisition of machinery and of eco-compatible technologies, most of which have already arrived at the production site, will increase production by about 25% compared to previous levels.
As far as employment implications are concerned, 33 new resources have already been hired since the beginning of the year with the aim of reaching a hundred new employees by the end of 2019. The company currently has around 500 employees.
"We count on the collaboration of local institutions, always very receptive to our needs, to support our initiative in the future for the benefit of the whole territory", added President de' Stefani.
