(Yicai Global) Dec. 4 -- Chinese metal fittings manufacturer Guangdong SACA Precision Manufacturing Co. [SHE:300464] plans to acquire a 70 percent stake in Italian furniture parts company Donati SRL for EUR2.8 million (USD2.35 million), as part of plans to expand into overseas markets.
SACA will buy remaining shares in the firm over the next three years.
Donati, established in 1982, focuses on producing furniture parts such as drawer slides and metal fastening systems, for markets including Italy, Austria, Germany, Spain and China. The company enjoys a 76 percent market share in Italy, while its overall market share in Europe is 16 percent.
SACA Precision is mainly engaged in the production of metal parts such as slides and hinges. The firm plans to make full use of Donati's brand value and improve the technical aspects of some products.