SANDRETTO
Production restarted / Administrator seeks prospective buyers / Future still uncertain
Production has recommenced in the two Italian plants of injection moulding machinery manufacturer Sandretto (Collegno / Italy; www.sandretto.it), which is under protection from creditors – see Plasteurope.com of 01.03.2006. After declaring insolvency in February 2006, the company suspended all production activities, as it was unable to obtain necessary parts. At the beginning of April, three administrators were appointed to reorganise activities and seek buyers for the business.
According to the Turin newspaper "La Stampa", Sandretto has now secured electronic components for 15 machines currently in production, so that it can fill at least part of an order for 70 machines. However, the future of the machinery manufacturer, which has been in and out of financial difficulty for more than a decade, is still unclear. According to La Stampa, Sandretto is unable to repay debts of EUR 57m owed to its banks and suppliers.
According to the Turin newspaper "La Stampa", Sandretto has now secured electronic components for 15 machines currently in production, so that it can fill at least part of an order for 70 machines. However, the future of the machinery manufacturer, which has been in and out of financial difficulty for more than a decade, is still unclear. According to La Stampa, Sandretto is unable to repay debts of EUR 57m owed to its banks and suppliers.
18.04.2006 Plasteurope.com [205162]
Published on 18.04.2006