Management of Industrias Romi (Santa Barbara d'Oeste / Brazil; www.romi.com.br) has sealed a compromise agreement with trade union representatives at Italian injection moulding machinery manufacturer Sandretto (Collegno / Italy; www.sandretto.it), clearing the way for the planned takeover of the company currently in state administration – see Plasteurope.com of 16.06.2008. The settlement, which came only a few days after the Romi annual meeting unanimously rejected the takeover deal due to what was termed “unfulfilled conditions,” was preceded by employee demonstrations at the Collegno plant.

According to Italian press reports, the agreement calls for Sandretto workers to forego around EUR 2,000 of their annual pay, rather than the EUR 6,000 Romi had initially sought. The compromise still has to be approved by Romi shareholders. An extraordinary meeting has been scheduled for 30 June 2008.