ITALY - The Biesse Board of Directors - held on December 20th in the corporate offices in Pesaro - analyzed the Chinese demand evolution, even in consideration of the recent tensions and the political-economic international context.

The Board of Directors expressed its will to refocus strategy in China, approving initiatives to modify the organizational structure for the Asian country, first country in the world for furniture production.

This new Chinese structure provides the reinforcement of the existing sales team (Biesse Trading Shanghai), that will be even more addressed to meet any medium and large size key accounts needs, in their turn always more oriented towards the top of the gamma, integrated solutions, connected and digitalized.

In order to meet this trend, this new organizational structure will use, in particular, the production sites based in Italy and India both, Group productions sites of excellence to create automated technological solutions, with excellent knowhow and state of the art processes, significantly reducing the Chinese production (originally oriented to the entry-level segment).

Regarding this industrial decision, the positive accounting effects will be perceptible already from the 2020, while a restructuring fund in a range of Euro 3-5 million has been provided for this year.