(Alliance News) - Somec Spa announced Monday that it has appointed Flavio Chiari as managing director of Mestieri Srl, the parent company of its "Mestieri: design and creation of custom interiors" division.

The appointment pursues the group's goal "to strengthen the process of internal managerialization and to accelerate its growth path, which in Mestieri finds one of the main strategic drivers," reads a note.

Oscar Marchetto, president of Somec, said, "The entry of Flavio Chiari, to whom we welcome

welcome, marks an important new stage in the growth path of Mestieri, which is called to

strengthen every day more and more internal and intra-group synergies, key elements for our development. We are confident that his long managerial experience, combined with the consistency of his qualities with the mission he will be called upon to carry out from today, will bring great value to the Mestieri division and to the entire group. The opportunities that the international markets can offer us are vast, and together we will be able to seize them with increasing speed and effectiveness, making ourselves ready in the face of the effervescence found in the high-end residential, luxury retail and hospitality sectors, both in the naval and civil sectors."

Operational since early 2022, the Mestieri division is active mainly in Europe and the United States

United States and consists of several Italian companies specializing in fine craftsmanship of

various materials, including metals, marble, wood and everything else that contributes to the creation of the

works.

In the first quarter of 2023, Mestieri achieved revenues that grew by 65 percent compared to the same period

2022. At the end of the current fiscal year, just two years after the project's launch, the division's revenues from the

Mestieri are seen approaching EUR100 million, the company explained in a note.

Somec on Friday closed at a par at EUR28.70 per share.

By Chiara Bruschi, Alliance News reporter

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