Seikaly led entrepreneurs to
buy Italian printing group

The group's turnover is worth
$212 million

Businessman Joe Seikaly, Chairman of local Express International, led a group of Italian entrepreneurs to acquire Lediberg Spa, a leading international group in the graphic arts industry.

The acquisition was made last February, through a newly-founded company, Lebit Holding, based in Italy.

The new group will have the yearly capacity to produce over 100 million products including diaries, notebooks, and leather goods with an annual turnover of more than $212 million.

The new group is planning to expand with the aim of increasing its current turnover to $284 million by 2018.

Lebit Holding Spa has invested $27 million of new equity while banks have signed a debt restructuring agreement.

Lediberg, founded in Italy in 1965, has seven manufacturing facilities: Four in Italy, one in Germany, one in Brazil, and one in Romania.