SANDRETTO
Planned takeover by Brazilian machine producer Romi / Both sites would continue to operate
Industrias Romi (Santa Barbara d’Oeste / Brazil; www.romi.com.br) has agreed to take over “some assets" of injection moulding machine manufacturer Sandretto Industrie (Collegno / Italy; www.sandretto.it), which has been in state administration since 2006 – see Plasteurope.com of 22.04.2008. The purchase price was EUR 5.5m. Romi’s board of directors has already approved the acquisition and the shareholders will be meeting on 4 June 2008 to discuss the issue.
The transaction, which comprises land, buildings and machinery at Sandretto’s two Italian sites and its four sales companies in France, Spain, The Netherlands and the UK, is expected to be completed by 6 December 2008. Romi intends to take on the 295 employees and has also given an undertaking that it will channel fresh funding of EUR 8m into the company within two years. It is not clear whether Sandretto will be free of debt when it changes hands or who will assume its liabilities, which are thought to amount to EUR 48m. Sandretto reported sales of EUR 30m in 2007.
Romi, whose business activities have so far focused mainly on South America, is regarded as Brazil’s leading producer of injection moulding machinery (“Pratica”, “Primax”, “Velox” and “Eletramax” brands) and blow moulding machines. In 2007 it sold 381 injection moulding machines with clamping forces of 400-40,000 kN, an increase of 23% year-on-year. Its portfolio also includes metal processing machinery, machine tools and cast iron parts. The machine tools segment accounts for two-thirds of sales, while injection moulding machines contribute around 17%. Romi has sales agreements with several European companies, including Emag Maschinenfabrik and Colombo Filipetti Torino. In 2007 it reported consolidated sales of almost EUR 250m and EBIT of EUR 48m. Sales of injection moulding machinery increased 18% year-on-year to EUR 40m.
e-Service:
Romi’s annual report for 2007 with segment report as a PDF document (421 KB)
The transaction, which comprises land, buildings and machinery at Sandretto’s two Italian sites and its four sales companies in France, Spain, The Netherlands and the UK, is expected to be completed by 6 December 2008. Romi intends to take on the 295 employees and has also given an undertaking that it will channel fresh funding of EUR 8m into the company within two years. It is not clear whether Sandretto will be free of debt when it changes hands or who will assume its liabilities, which are thought to amount to EUR 48m. Sandretto reported sales of EUR 30m in 2007.
Romi, whose business activities have so far focused mainly on South America, is regarded as Brazil’s leading producer of injection moulding machinery (“Pratica”, “Primax”, “Velox” and “Eletramax” brands) and blow moulding machines. In 2007 it sold 381 injection moulding machines with clamping forces of 400-40,000 kN, an increase of 23% year-on-year. Its portfolio also includes metal processing machinery, machine tools and cast iron parts. The machine tools segment accounts for two-thirds of sales, while injection moulding machines contribute around 17%. Romi has sales agreements with several European companies, including Emag Maschinenfabrik and Colombo Filipetti Torino. In 2007 it reported consolidated sales of almost EUR 250m and EBIT of EUR 48m. Sales of injection moulding machinery increased 18% year-on-year to EUR 40m.
e-Service:
Romi’s annual report for 2007 with segment report as a PDF document (421 KB)
27.05.2008 Plasteurope.com [210880]
Published on 27.05.2008
German version of this article...