Canadian Plastics

Sacmi seeks full control of Negri Bossi

Italian machinery group Sacmi has made a bid for all outstanding shares in its subsidiary, injection molding machin...

September 22, 2008   Canadian Plastics

Italian machinery group Sacmi has made a bid for all outstanding shares in its subsidiary, injection molding machine maker Negri Bossi.

Imola-based Sacmi, which bought Negri Bossi in early 2002, currently holds just under 64 per cent of the company’s shares.

When Negri Bossi announced its half-year results in August, CEO Eugenio Ferragina said the company intended to speed up and intensify ongoing plans for reorganization, repositioning and relaunch.

Negri Bossi made a net loss of 7.8 million euros in the first six months of this year, 6 million euros more than the same period in 2007. Total sales of 56.3 million euros were down 12.9 per cent.

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