LUBE Industries: a new 44mln investment plan for the foreign market, thanks to approval of the PNRR (National Recovery and Resilience Plan) fund, called “LUBE FOR FUTURE”
The press conference for official presentation of the decree of approval of the “LUBE FOR FUTURE” project, submitted by LUBE Industries in order to use the resources and grants provided by the PNRR Fund no. 20 of 27 April 2022, was held today at the Marche Regional Authority building, in the presence of the Minister of Enterprise and Made in Italy, Senator Adolfo Urso, the President of the Region, Francesco Acquaroli, and the Special Commissioner for the 2016 Earthquake, Guido Castelli.
The project submitted by LUBE provides for an investment of Euro 44mln, of which Euro 27mln is dedicated to unique machinery and equipment in the industry, for the construction of a new production plant in the town of Treia, for the manufacture of kitchen furniture, living area furniture and wardrobes for the overseas market.
“Company revenues on overseas markets currently account for 10% of the total, but the current production set-up, designed for the needs of the Italian market, prevents us from being competitive on an international stage, where product and service needs are very different to the domestic ones”, explain Alessio Sileoni and Marcello Giulianelli, respectively R&D Manager and COO of the Group. “The aim of this new investment is to focus on a key element of development, which is the manufacture of products and services for specialised distribution and for contract work which better meet the demands of overseas markets”.
The new facility will have floorspace of around 30 thousand square metres and a workforce of around 60 new and highly specialised workers. It will be built in compliance with the most recent directives on innovation, functionality and integration into the surrounding landscape, with a strong focus on energy saving and in accordance with the most stringent environmental sustainability criteria. It will also have completely automated production lines based on an Industry 4.0 logic, for the flexible manufacture, using the “just-in-time flow” method, of furniture with specific technical features for the overseas market.
“Today is a very important day for us, as we are officially commencing our most ambitious industrial project in 55 years of activity. Cooperation with the institutions plays a key role in this phase, as Lube is seeking a direct and constructive dialogue, in order to maximise the benefits of public investments,” explains Fabio Giulianelli, CEO of Gruppo LUBE. “Over the last few years, the company has concentrated on development of the domestic market, with the creation of a new distribution business model based on single-brand stores only, of which there are now over 600”, continues Giulianelli. “2022 ended with total revenues of over Euro 270 million and we are aiming to come close to Euro 300 million in 2023. In order to achieve these results, it is necessary to adapt the current production capacity, which currently comprises four plants with floorspace of over 150,000 square metres and state-of-the-art technological equipment, with an ambitious project that will allow us to meet the new technological and business challenges of the global market. We believe this is the right way to go if the level of saturation of the domestic market is considered”.
The “LUBE FOR FUTURE” project offers a major opportunity for growth, not just for LUBE, but also for the entire furniture manufacturing industrial district of the Marche, which is one of the jewels in the crown of our country for the manufacture of a “Italian-made” products that are being increasingly acknowledged and appreciated worldwide. Once again, Gruppo LUBE confirms its position as an industry leader, a visionary and a pioneer in planning a better future for the country and for future generations.