Mermec: 'We will continue growth with the current control'

Mermec, an excellence of the Italian railway industry (diagnostic trains and signalling systems), is at the centre of many rumours. The Apulian company (headquartered in Monopoli, in the province of Bari) is part of the Angel group, an Italian industrial holding specialised in the design and development of high-tech solutions for the aerospace, digital mechatronics and railway sectors. The president and CEO of Mermec is Vito Pertosa. For weeks, rumours have been circulating (unconfirmed by those directly involved) about an alleged interest of the Ferrovie dello Stato (FS) group in a possible acquisition of Mermec. According to the hypothesised structure, Fs would have to take a majority share of between 60% and 65%, while Cdp Equity would hold the remainder, except for a possible residual share that could remain with Pertosa.

On 16 September next, a board of directors of FS is convened and, at that meeting, the CEO, Stefano Antonio Donnarumma, could open the acquisition dossier, which would also involve other companies, starting with the railway branch of the Pizzarotti company, specialised in the production of railway sleepers. According to leaked information, the Pizzarotti group has around 1.8 billion in debts and is trying to renegotiate them with banks. On Pizzarotti, FS's commitment would not be binding and would be subject to due diligence, the precise definition of the perimeter of the assets to be taken over, and the sharing of a price.

Then there is the Mermec chapter. Ruggero Delcuratolo, managing director of Mermec, intervenes on this point. Says Delcuratolo: 'Once again we see unfounded news in the newspapers. Nothing has changed since our last statement. Mermec, as it has done in the past, is open to the entry of other shareholders in the capital to accelerate growth and, at the same time, it is attentive to seizing opportunities to acquire new companies or establish partnerships for development and expansion, and this is how it will continue to be in the coming years. This is the logic with which we choose our partners. For this reason,' continues Delcuratolo, 'we are talking without any due diligence with a number of subjects including FS and Cdp. What is 100% certain is that in the coming years Mermec will continue to grow and create value with the current control'.

Meanwhile, the numbers confirm Mermec's positive momentum. Preliminary estimates for the year 2024 show revenues of EUR 511 million, an EBITDA of EUR 90 million and a pre-tax result of EUR 43.3 million. Mermec has orders all over the world, but its main customer is the FS Group. Starting with the Pnrr contract for the new 2.5 billion Ermts signalling system, in which all the giants of the sector (Hitachi, Alstom) are involved.