A PRIZE AND A WISH FOR FENZI CHINA

While the entire world is considering the likely developments of a general crisis, Fenzi China ends 2008 as a year of great achievements. The final seal is a prestigious award, reserved for the best companies, which distinguished themselves for overall sales growth and quality of service to its clients in 2008 in the district of Jiaxing.

The company was inaugurated in 2006 in Jiaxing, just 90 km. from Shanghai. Over the years the Fenzi establishment in China has shown an extraordinary vitality: the production and distribution of Duralex paints for mirrors inaugurated the Chinese branch of the Tribiano Group and determined its extremely fast development. In 2008, barely two years after initiating activities, it tripled the size of its site, expanding from the original 7,000 meters to its current 15,000. However the most interesting fact is that the company has progressively merged with the local environment, successfully giving rise to a happy marriage between Italian technology and business skill and the progressive growth in Chinese working and administrative proficiency, indispensable in ensuring the smooth and productive operations of such a huge commercial and industrial complex. New products offered by Fenzi are presently being introduced, in an effort to effectively meet the needs of this immense potential market.

But of course, it is not that easy. The financial tsunami also hit China’s general economic activity, to the point where Chinese authorities have said goodbye to the double-digit growth rates, which they became accustomed to over the past ten years. However, counting on their current enormous amount of financial reserves, the Chinese government last autumn kicked off an ambitious state assistance program: in an unprecedented move it allocated more than 600 billion dollars, enough to escalate the budget deficit to the notable sum of 140 billion dollars, i.e. 3% of the GDP. This is a gigantic injection of liquidity that should begin to show its first effects on the economy within a few months.

The objective is to continue to maintain a growth rate of 8%, already extremely healthy to Western eyes, but barely sufficient for the Chinese logic of maintaining job rates to guarantee social stability.

And in this scenario, an encouraging fact in itself because of the great dynamism that characterizes it, Stefano Pozzi, General Manager of the Zhejiang Fenzi Paints and Sealants Company Limited, can maintain with admirable confidence, that: “The Chinese economic system is showing a positive reaction: the economy in China is set to continue to grow. I remain hopeful, and I believe that the objectives we set ourselves for 2009 will be attained. ”

The new production units that Fenzi is about to set up, first and foremost those related to ceramic paints, will be tangible proof of this ongoing growth.