CEO Pietro Profumo has led a management buy-out of Galileo Vacuum Systems, Prato, Italy from the Fata Group. This development was motivated by the diverging strategic focus of the two companies. While Fata is moving away from its traditional industrial base in the aluminum sector, Galileo's growing markets in flexible packaging require a more decisive and specific strategy.
"Galileo's future looks bright," comments Pietro Profumo, "2004 will be our record year in terms of new contracts for our roll-to-roll metallizer and slitter rewinder product lines. Looking forward, we will consolidate our position in the current markets while pursuing new growth opportunities already identified."
The company's activities will continue in the Prato, plant with the support of its international operations in Atlanta, Shanghai and Moscow.
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