NEGRI BOSSI
Losses force change of control / Sacmi managing director Emiliani takes the helm
Injection moulding machinery manufacturer Negri Bossi (Monzese / Italy; www.negribossi.it) has reported a provisional operating loss of around EUR 10m for 2008. Sales in the year were EUR 98m, compared with EUR 128m in 2007. Eugenio Emiliani, managing director of Negri Bossi’s majority shareholder Sacmi Group (Imola / Italy; www.sacmi.com), has been appointed interim managing director of the company. He will be responsible for ensuring that the integration of Negri Bossi into the activities of Sacmi Imola is as "comprehensive as possible."
Sacmi parent company HPS holds just under the 90% of shares required to delist Negri Bossi from the Milan stock exchange – see Plasteurope.com of 12.12.2008. This means that it cannot integrate Negri Bossi into Sacmi as fully as it would like to. However, the Negri Bossi board has applied to the exchange to be removed from the exchange’s "Star" section that requires the 90% shareholding before being able to delist.
Sacmi parent company HPS holds just under the 90% of shares required to delist Negri Bossi from the Milan stock exchange – see Plasteurope.com of 12.12.2008. This means that it cannot integrate Negri Bossi into Sacmi as fully as it would like to. However, the Negri Bossi board has applied to the exchange to be removed from the exchange’s "Star" section that requires the 90% shareholding before being able to delist.
04.02.2009 Plasteurope.com [212703]
Published on 04.02.2009