“Everything started when my brother and I got our mother to lend us 100,000 lira for the first welding machine.” Guido Faresin – founder of the company of the same name, leading manufacturer of formworks and systems for the industrialised construction sector – not only repaid the loan to his mother with interest, but honoured that gesture by leaving what SACE defined a few years ago a “pocket-sized multinational” to his daughters.
“This is a definition we like and recognise ourselves in”, admits Chiara Faresin, executive director of Faresin Building. The manager has the difficult task of continuing her father’s legacy: “The transition we are experiencing is momentous for us. It is a generational shift. My sister and I simply have to follow the path laid by my father, pursuing the internationalisation process that began a few years ago”.
The story of the Faresin Group began in 1973 thanks to the brothers Guido and Sante Faresin, two skilled workers at the historical metalworking and motorcycle company Laverda di Breganze, in Vicenza. They knew they could do more, so they turned to their mother for financial help. Together they founded Officina Meccanica snc di Faresin Guido e Sante, providing mechanical structural works for third parties. In 1987, the two brothers decided to diversify their business: Guido founded Faresin Fc2000 srl for the manufacture and marketing of products for the construction industry; Sante instead continued the activities of Officina Meccanica, developing a new type of product, feed mixers. Things went well, beyond all expectations. So, convinced that together they would be stronger, in 1992 the brothers merged to two companies into Faresin srl, strengthened due to the enhancement of technical, economic and financial synergies that would soon favour their development on the national and international scene.
The first branches were inaugurated in Belarus, Croatia, Germany, Hungary, Romania, Slovakia, Russia and China. Then expansion also involved developing countries in Africa and Central America, requiring specific attention: “In a long-cycle market such as construction – explains Chiara Faresin – SACE becomes a crucial tool for supporting customers. This has allowed us make a leap in quality in countries such as Morocco, Algeria, Mexico, South Africa, Senegal and throughout Central America.”
Over the years the Group run by the two brothers reached a size and market volumes that resulted in the establishment of the holding company FARESIN spa in January 2002.
In a letter addressed to his employees, Guido Faresin wrote, “At the same time it was crucial to keep the link to our roots alive: to our land and our family.” “Running a company like ours based on a family model – added Chiara Faresin – responds to a specific strategic choice. Our link with the territory is very strong and an integral part of the company’s values. However, this does not mean that we underestimate the importance of our collaborators. Moreover, I considerc the multi-ethnic composition of our staff a valuable component.”
Today the Faresin brothers lead a Group consisting of 5 Italian companies, all located in the Vicenza area, with a total of approximately 250 employees and 9 production sites covering a total area of 40,000 square metres. The group was also able to overcome the crisis years, remaining united and addressing the difficulties by re-launching design and research: “These aspects are essential for a company like ours” explains Chiara Faresin. “They create 50 per cent of the market for our company. In 2015 we invested 10% of turnover in research and design.” A worthwhile investment, as demonstrated by the eight new patents registered in last year alone.
“Sometimes – the letter by Guido Faresin continues – they ask me what the secret to our entrepreneurial success is. In truth, there is no secret, but a simple aspect that is already clear to everyone right from our company name: family continuity. Chiara and Lucia Faresin best represent the continuity of company values and at the same time the renewal needed to look forward to a constantly evolving market.” The generational shift was not seen as an obstacle but as an opportunity for growth. Ultimately, the same spirit with which their mother lent the first 100,000 lira.