The two business units “Systems” and “Modula”, will become two separate joint stock companies.
A NEW ORGANIZATION FOR THE GROWING BUSINESS OF SYSTEM LOGISTICS
The great development experienced by both business units over the last years in terms of business size, highlighted the need to become ever more independent as to market approach and customization of products/technologies, as well as corporate organization.
The opportunity to work by means of two independent and separate company organizations, characterised by distinguished brands, shall be an essential factor that will better identify the companies within System Group in the international industry scenario.
This corporate operation shall involve transferring - from the existing company - a line of business (i.e. the "Systems" business unit) and consequently establishing a new company. The position of both companies within System Group will remain unchanged.-
The newly formed company shall be referred to as System Logistics SpA (dedicated to the supply of large systems for warehouse automation, as well as picking and material handling operations - former "Systems"business unit) and the former company shall change its name to Modula SpA (dedicated to the supply of automated vertical warehouses with trays - former Modula business unit).
Franco Stefani, President of System Group, explained: <> <>.