Major Subsidiaries 

IVM CHEMICALS srl - Milan (I)
Wood paints, PU Elastomers and Resins 

INDUSTRIAS QUIMICAS IVM sa - Valencia (ES) 
 Wood paints and stains 

IVM CHEMICALS Sp.zo.o. - Varsavia (PL)
 Wood paints and stains

IVM CHEMICALS GmbH - Herrenberg (D)
Wood paints and stains 

IVM CHEMICALS Inc - Charlotte (USA)
Wood paints and stains 

MILESI VERNIS sa - Paris (F)
Wood paints and stains

MILESI HELLAS ltd - Athens (GR)
Wood paints and stains 

Major Shareholdings

BOERO GROUP -Boero Batolomeo Spa  - Genoa (I)                      

BOERO 
BOERO Fai da te
ATTIVA
ROVER 
BRIGNOLA COLORI
TORRE COLORS
BOERO YACHT COATING

ATTIVA MARINE
VENEZIANI YACHTING
CHUGOKU-BOAT ITALY S.p.A
.

ADLER srl - Castel San Pietro Terme - Bo - (I)