(Aug. 7) - Panariagroup, the Italian group which is a world leader in the manufacture and distribution of high-end and luxury porcelain stoneware flooring and wall coverings, expands its market in India, entering into a partnership with Asian Granito India, one of the leading companies in the Indian ceramic tile manufacturing market. The joint venture is being created in Ahmedabad in the Indian state of Gujarat, through a company 50%-owned by Panariagroup and 50%-owned by Asian Granito India. The joint venture Company will offer products comprising a selected range of Panariagroup's best sellers manufactured in Italy and collections produced in Asian Granito's Indian plants under an exclusivity agreement, with support from Panariagroup's technical team to ensure that touch of Italian style. The new Company sales organization will bank on the knowledge of the Indian market acquired by the partner Asian Granito, and will operate under the brand ‘Bellissimo – Stile Italiano’, registered and owned by Panariagroup. In Asian Granito, Panariagroup has found its ideal partner to give life to a joint venture founded on sharing the ‘Bellissimo’ project. By merging Italian experience, elegance and innovation with the increasingly sophisticated needs of Indian consumers, the joint venture will immediately be positioned on the local market as the brand of choice for high-end and luxury products. (red)

ABOUT PANARIAGROUP
Panariagroup Industrie Ceramiche, with headquarters in the area known as the ‘ceramic tile district’ between Modena and Reggio Emilia, heads a Group with 30 years' experience in the manufacturing and sale of ceramic materials for flooring and wall coverings, with a focus on the luxury and high-end segments of the market. With approximately 1,700 employees and 6 production facilities, Panariagroup ranks among the leading national and international manufacturers, distributing its products in more than 100 countries, through a sales network comprising 500 employees and 300 Sales Agents that serve a base of roughly 9,000 customers. Panariagroup, listed on the Star segment of Borsa Italiana since November 2004, operates through 8 leading brands (Panaria, Lea, Cotto d’Este, Fiordo, Margres, Love Tiles, Florida Tile and Blustyle), all in the high-end and luxury market segments.