Scicon expands following investment

By Stephen Frothingham

ROMANO D’EZZELINO, Italy (BRAIN) — The parent company of travel bag maker Scicon has received a capital investment that will bolster growth worldwide and a new 4,000 square meter (43,000 square feet) office and manufacturing space in Northern Italy.

The new facility will be shared with Scicon’s sister brand, Ftech custom cycling clothing.

Scicon is a brand of ASG International SRL; a joint venture of Heinrich Dannhauser and Massimo Fantin; and the ASG Group’s European subsidiary. ASG Group received a capital investment firm South African Enterprise Development Proprietary Limited, which the company said will provide “greater support to fund the aggressive growth strategy for the SCICON® brand.”

“With the arrival of SAED, ASG intends to capitalize on the group’s strong position in South Africa and to accelerate international expansion and growth through a newly established European headquarter in Italy, in a sector that provides exceptional growth opportunities,” said Dannhauser, ASG Group founder and ASG international CEO.

Fantin, who is ASG International’s co-founder and CEO, said, “We are pleased to welcome SAED, a highly reputable financial partner, with whom we share a common vision to grow our brands. ASG International benefits from the infusion through SAED in the group and enables our division to …read more

Via:: Bicycle Retailer and Industry News