The strategic business plan of Poggipolini, a company, which has been for three generations running a point of reference in the design and production of special hot-forged fasteners and of high precision mechanical components, is infull swing and developing at a steady pace.
The sector of hot-forged screws is the driving force of the company, thanks to the experience gained in forty years first in the Formula 1 sector and in supercars followed by the aeronautics sector, mainly in the helicopter and space sector. In the last six years the company has developed and patented a new production process, called “High Speed Hot Forging”, to produce titanium and inconel screws, at high speed and maximum efficiency, for the commercial aircraft sector and also for premium cars, a sector in which weight reduction is crucial. This new way of producing hot-forged screws offers customers the possibility to order without requiring a minimum order, guaranteeing a very high customisation and very fast delivery times, and offering, at the same time, the possibility of achieving up to 100 screws per minute, starting from raw material to delivery. Thanks to this process Poggipolini introduces the concept of production by kit and not only by volume. The production capacity of an automated line is of 10 million screws per year (today the company produces about 1 million screws), which is all digitised and designed to be extended globally, side-to-side to the customer.
The new 3,000 sqm factory, with a potential of 20,000 sqm that has been operational since November 2019, joins the historical one and is also located in San Lazzaro di Savena (Bologna). It is a proper Smart Factory (Aerospace Centre of Excellence) and is designed to become the Emilian aeronautical centre focused on research and development projects, also together with customers, startups and universities, and on the industrialisation of vertically integrated complex systems. The mission is to bring the company from ultra-niche sectors, such as Formula 1 and helicopters, to other sectors, such as commercial aircraft and premium cars, positioning itself as a technological partner and offering value-added solutions. The new patented process technologies, which not only concern the sector of screws and bolts but also that of very high-precision mechanical devices, will allow to take another fundamental step forwards. Organic growth is expected in the next 5 years, aiming to reach 50 million euros in turnover, with an investment plan also confirmed after Covid-19.
Hence the strategic choice to open the company's capital to include the Cherry Bay Capital group, with a long-term perspective and aware of the company's technological potential. The entry into the capital of Cherry Bay Capital, with a minority stake, was not a choice dictated by need but rather done to strategically accelerate the business plan.
Since 2010, Poggipolini has started a proper transformation phase, transferring its know-how and technology from the historical sector, Formula 1, to other sectors, primarily aeronautics, which today represents 60% of the company's turnover. The company has invested 40% of the 2019 turnover and 15 million euros in the previous 7 years in technologies, development of new processes, certifications, research and personnel. The first quarter of 2020, despite the Covid-19 emergency, ended with a + 20% growth in turnover and in 2019 the company registered the record year in turnover, reaching more than 15 million euros with a + 30% growth compared to 2018.
