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Italy Permasteelisa wins $22.4m US order

MILAN: Italian building components group Permasteelisa said on Thursday it had won a $22.4 million order in Florida, boosting its presence on the U.S. market where last year it won contracts totalling some 110 billion lire ($56.35 million).

The company, a specialist in external metal facades and frames and office furniture, was listed in Milan last July.

The group said in a statement it expected to post 1999 turnover of around 580 billion lire with net profit after third party interests up by 31 percent to some 29 billion lire.

"Our aim is to become the leading producer in the facades market in North America by the end of 2001," said group Chairman Enzo Pavan.

"We expect improved results in 2000 with a rise both in turnover as well as profit of around 20 percent, without taking into account a further boost which could result from possible acquisitions," Pavan said.

At 1120 GMT, Permasteelisa stock was up 1.51 percent at 13.4 euros on a Milan bourse gaining just 0.48 percent.-Reuters