It is rare for a family-run business in Italy to be handed down successfully over three generations.
Baltur S.p.A. is a happy exception to this rule, in business for more than 60 years.
The company was established in 1950 by two friends, Giuseppe Ballanti and Ferdinando Tura, who took advantage of the opportunities offered by a rapidly growing market to develop their innovative ideas for heating.
For a great idea to come true, you need to have the right people in the right places, at the right time. And this is what happened when Ballanti and Tura crossed paths with the Fava family.
Brothers Augusto, Lino and Arturo Fava revealed their talent for enterprise right after the war, opening a small workshop that grew to attain a position of leadership in the field of pasta drying systems in only a few years with the family-run business, Fava S.p.A.. In 1961 Ballanti and Tura proposed that Augusto take over a 50% share in their company.
In 1987 the Fava family purchased all the shares in Baltur S.p.A., and in the '90s, under the chairmanship of Gianni Fava (Augusto's second child), the company grew significantly in Italy and abroad.
Luigi and Riccardo had been brought up to share the sense of duty characteristic of their grandfather Augusto and their father Enrico, and now they took over as the third generation of Fava managers: their holding company, Relfin S.r.l., took over the majority shares in Baltur S.p.A. and Fava S.p.A..
He started his career in 1988, putting his skills and talents to work without any “protective cushioning” from his family, a situation which taught him the meaning of the words responsibility and dedication. He held positions of growing responsibility in the company until he was appointed Baltur Vice Chairman, Managing Director and General Manager in 1999. To Riccardo Fava, being the right man in the right place means working hard, with dedication, seeing every challenge as an opportunity to grow.