Italian compression moulding equipment manufacturer Sacmi Group (Imola; www.sacmi.com) on 11 April announced that it had sold its Plastics division to US conglomerate Kingsbury Group (Rochester, New York). Financial details of the deal – which includes plastics injection moulding press manufacturer Negri Bossi (Milan / Italy; www.negribossi.com), large press producer Bi-Power and robotized business solutions provider Roboline-Sytrama (Milan / Italy; www.roboline.it) – were not disclosed. Together, the three business units are worth about EUR 100m, the Italian company said.

Sacmi Group general manager Pietro Cassani said the sale was “in keeping with Sacmi’s desire to streamline management and focus more on the ceramics and packaging sectors.” Under the terms of the agreement, Cassani will become a member of Kingsbury’s board of directors, a position which, he said, would ensure strong ties between the two companies.

He added that the US company said it plans to maintain the existing facilities in Cologno and Imola, without cutting down the workforce. The focus instead was in promoting further growth, primarily in the US and the UK.

As for Sacmi itself, Cassani said the supplier of high-tonnage presses is planning to raise its staff levels in the future. The deal does not include Sacmi Imola, which produces PET preforms and closures, among others.