Sacmi sells Plastics Division/Negri Bossi to US firm

Sacmi Group, which has businesses in ceramics and packaging, will transfer its entire Plastics Division to the Kingsbury Group, a New York-based player in the automotive, aerospace and electronic components industries. “This sale is in keeping with Sacmi’s desire to streamline management and focus more on the ceramics and packaging sectors,” stated the Sacmi Group’s General Manager, Pietro Cassani (who will, following this operation, become a member of the American company’s board of directors). Financial details of the transaction were not disclosed.

The plastics division includes Negri Bossi, one of Europe’s leading designers of injection moulding presses that has been in the Sacmi Group for some ten years now. During that decade this Cologno Monzese-based company has undergone extensive reorganisation and seen its product range steadily expand towards the top end of the market. The second company is Bi-Power, a Sacmi branch specialising in the manufacture of very large presses and a long-standing supplier to Europe’s major automobile manufacturers such as Fiat-Chrysler. Finally, the divestment includes Roboline-Sytrama of Vignate (Milan), a provider of robotised business solutions to the plastics industry.

According to Cassani, “The Kingsbury Group undoubtedly has the skills needed to give this business, currently worth some EUR100 million a further boost.” Cassani also said that given the huge contribution the ‘new entries’ will make to Kingsbury (with Negri Bossi subsidiaries in Spain, France, UK, India, Canada and the US), overall business volumes are expected to rise to EUR250 million.

He added, “My presence on the new Kingsbury-Negri Bossi Board of Directors ensures strong ties with the Sacmi Group, which remains the main supplier of high-tonnage presses, built at Sacmi Imola.”

Cassani also indicated that the new owners have expressed their intention to maintain the current output facilities, especially in Cologno and at Sacmi Imola, without any personnel cuts. “In fact, the emphasis is on growth, which is being driven by the two most promising markets, the US and the UK.” Sacmi says it closed 2013 positively, confirming that the performance of 2012 has continued (also into the current year), with further growth of volumes and revenues across all divisions.

Kingsbury makes extrusion, conveying, coating and converting machinery for paper, plastics, metal foils and glass sectors. Major markets are automotive, aerospace and electronic components. The firm is a sister company of Optimation Technology and Rush, a business engaged in industrial engineering, design, assembly, construction and maintenance that recently became integrated with Kingsbury’s machinery manufacturing. Kingsbury’s customers include the US Ministry of Defence, Chrysler, Ford, Briggs & Stratton, Whirlpool and Honeywell

(IMA)

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