I agree, logically it is italian (also came from an employee at 'italian solutions' - a bike co. somewhere in the UK not that that makes it anymore italian) but haven't come up with much despite a lot of time scouring the internet. As for the 'b', there aren't that many italian manufacturers beginning with a 'b', that I've found which is all the more puzzling.

Does anyone have any ideas on the tubing? lugs? etc.
Also was a 68mm wide italian threaded bb the norm for a certain period?

I tempted to go with prugnat lugs from what I've seen but confirmation/rejection of this is welcome.