At an extraordinary general meeting on 4 June 2008, shareholders of Industrias Romi (Santa Barbara d’Oeste / Brazil; www.romi.com.br) unanimously rejected the planned takeover of Italian injection moulding machinery group Sandretto (Collegno / Italy; www.sandretto.it), which is currently in state administration. The meeting said conditions set out in the takeover agreement had not been met in full.

Although a statement issued by Romi did not specify which conditions were meant, the company said a new meeting will be held to reconsider the takeover if the problems are resolved. Press reports suggest that labour issues are a major point of conflict.

Romi announced in mid-May that it was planning to acquire Sandretto’s assets, brand rights, subsidiaries and two production sites for EUR 5.5m by 6 December 2008 – see Plasteurope.com of 27.05.2008.