Italian firm takes stake in Maine Manufacturing
An Italian manufacturing firm has acquired a majority equity interest in Sanford-based Maine Manufacturing, which recently acquired product lines from GE.
The companies announced in a press release Wednesday that the Bologna, Italy-based GVS Group, which manufactures automotive and medical filtration products, will join existing investors in Maine Manufacturing and provide the Sanford company access to new international markets.
Massimo Scagliarini, CEO of GVS, said in a prepared statement that Maine Manufacturing's product portfolio, sales volume and recent acquisitions prompted his company to make the investment.
Maine Manufacturing President Bill Emhiser spoke with Mainebiz earlier this month about the company's growth and its recent acquisitions.
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