Glaston Group recently announced it has ceded the preprocessing machines division of Glaston Italy to the company’s Italian managers. Glaston Italy has since been renamed “Bavelloni SpA.” That, according to the Bavelloni family, has led to some confusion regarding its relationship with the newly establish company.

To clarify the relationship, the family has released the following statement:

The Bavelloni Family
The Bavelloni Family

“The Bavelloni family, represented by Messrs. Dino Bavelloni, Franco Bavelloni and Sons, in response to some rumors in the market declares to have no financial stake in the newly established company called Bavelloni Spa, after the separation from the Glaston Group.

In spite of being satisfied with the fact that brand of the company it previously owned is still attractive on the glass market, the family confirms its involvement is limited only to the glass machinery manufacturing company Neptun Srl, whose major shareholders are Stefano Bavelloni, Simona Bavelloni and Matteo Rolla, in addition to Mr Dino and Mr Franco Bavelloni.

The family also states the only connection running so far with that company concerns the lease between Glaston / Bavelloni Spa and the real estate company SIBI Spa, relevant to the factories owned by the Bavelloni family; the contract will end on Sept. 6th, 2015.”