SOURCE: Florida Tile Inc.

November 12, 2007 10:23 ET

Florida Tile Inc. Organizational Announcement

LAKELAND, FL--(Marketwire - November 12, 2007) - The Board of Directors of Florida Tile Inc. announced today an important organizational change aimed at better supporting its long-term strategy of becoming the leader in manufacturing and distribution of porcelain tile products in the US market through two main channels: independent distributors and directly owned branches.

Effective from today, Florida Tile Inc. will be managed at its first level by an Executive Committee formed by:

--  Massimo Barbari - Executive VP Sales & Marketing
--  Luca Setti - Chief Financial Officer and Senior Executive VP
--  Luca A. Zerbini - Chief Supply Chain Officer and Executive VP Business
    Development
--  Bernie Schwartz - Executive VP Manufacturing
    

The Executive Committee will report directly to the Board of Directors and will be in charge of executing Florida Tile's strategy and managing its day-to-day operations.

Massimo Barbari also announced major changes to Florida Tile's Sales & Marketing organization, which will improve Florida Tile's ability to market and distribute its products in the US market.

Dave Milanowycz will assume the position of National Sales Director Independent Distribution, after over ten successful years as Regional Sales Manager with the company.

Marc Burton has been named Regional Branch Manager; having demonstrated good results in managing a few directly owned branches, his responsibilities and the number of branches he is overseeing has been further expanded.

Mike Vail has been named Regional Branch Manager, following a number of years successfully managing Florida Tile's Charlotte branch and more recently also its Greensboro branch.

Doug McGlinchey will assume the position of Vice President Marketing, bringing to it a diverse background having worked at Florida Tile with the independent distribution channel and most recently as Vice President for its directly owned branches.

Jim Cuthbertson, after 40 years of valuable service to Florida Tile, has decided to spend more time with his family in Utah and will thus assume a staff role, working directly with Massimo Barbari on special projects related to Marketing and Sales. The Executive Committee extended a special thanks to Jim for his years of dedicated service to Florida Tile and looks forward to a long and fruitful future involvement with the Company.

Dave, Mike, Marc, Doug and Jim will all report directly to Massimo Barbari, Executive VP Sales & Marketing.

The Board of Directors and the Executive committee re-affirmed their trust and commitment to this management team and extended to them their best wishes for the future development of the company.

After its acquisition of Florida Tile in March 2006 and the Grand Opening of its state-of-the-art Porcelain Plant in Kentucky in September 2007, Panaria Group (MILAN: PAN IM) is thus showing its continued commitment to developing in the American market as the centerpiece of its globalization strategy, investing in human resources as much as in physical assets.

Florida Tile is a leading ceramic tile manufacturer and distributor serving the premium segment of the US market. With its state-of-the-art production site, its national distribution center, 25 directly owned branches and a number of strong distribution partners, Florida Tile is one of the most important players in the American building materials industry. www.floridatile.com

Florida Tile is a fully owned subsidiary of Panaria Group, a public company on the Milan Stock Exchange (MILAN: PAN IM) and a leading manufacturer and distributor in over 60 countries around the world, through six manufacturing sites in Italy, Portugal and the USA and seven brands positioned in the high-end of the market. www.panariagroup.it

Contact Information

  • Contacts:

    Luca Zerbini
    Chief Supply Chain Officer and
    Executive VP Business Development
    Tel: 863-284-4009
    Email: Email Contact

    Renato Martelli
    Panaria Group
    Email: Email Contact