Florida Tile Names New Chief Executive

Lexington, KY, April 14, 2010--Florida Tile has named Michael Franceschelli CEO and a member of its board of directors.

Franceschelli will report to the President of Panariagroup and to the Panariagroup CEO.

Franceschelli has had progressive senior management roles at Alco Equipment (originator of the FleetPride name) and at ArvinMeritor.  He will be responsible for driving company strategy through investments in research and technology, and through commitment to customers, employees and suppliers.

The board also promoted Andrea Zanni, formerly vice president, to chief operating officer and chief financial officer.

Reporting to Franceschelli and continuing to serve on the Executive Committee are:
Massimo Barbari, Executive Vice President Sales and Marketing
Bernie Schwartz, Executive Vice President Manufacturing
Luca Setti, Senior Executive Vice President Branch Sales and Organization
Andrea Zanni, Chief Operating Officer and CFO

Florida Tile is a wholly owned subsidiary of Panariagroup Industrie Ceramiche S.p.A., a public company on the Milan stock exchange.