Sacmi Group sells plastics division to US-based Kingsbury GroupSacmi Group sells plastics division to US-based Kingsbury Group
Packaging machinery supplier Sacmi has sold its plastics division to the Rochester, New York-based Kingsbury Group, which has a portfolio that includes Chrysler, Ford, Whirlpool and Honeywell."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. He will became a member of the American firm's board of directors.
April 14, 2014
Calling it three of the company's "family jewels," the transaction includes Negri Bossi, a designer of plastic injection molding presses; Bi-Power, a Sacmi branch specializing in the manufacture of large presses and a long-standing supplier to Europe's major automobile manufacturers such as Fiat-Chrysler; and Roboline-Sytrama of Vignate (Milan), a provider of robotized business solutions to the plastics industry.
Cassani says that the business is currently work 100 million Euros, but overall volumes are expected to rise to 250 million Euros due to subsidiaries in Spain, France, UK, India, Canada and the U.S.
"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 ton presses, built in Imola," Cassani said. "The current portfolio, at record levels ever since we started manufacturing in Imola, now obliges us to increase staff numbers there, and we do so with pleasure."
The new owners have expressed their intent to maintain the current output facilities without any personnel cuts. The emphasis is on growth, which is driven by the markets in the U.S. and the UK.
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