US equipment firm buys Negri Bossi

By Michael Lauzon
Correspondent

Published: April 14, 2014 1:58 pm ET
Updated: April 15, 2014 10:02 am ET

Image By: Sacmi Group Pietro Cassani

Related to this story

Topics Mergers & Acquisitions, Machinery

Italian plastics equipment major Sacmi Group’s offerings are getting a U.S. identity.

Sacmi has sold its plastics division to Kingsbury Corp., a machinery firm based in Rush, N.Y., for undisclosed terms. The deal became official on April 11, when Sacmi announced the deal.

Kingsbury makes extrusion, conveyance, coating and converting machinery for paper, plastics, metal foils and glass. Major markets are automotive, aerospace and electronic components. The firm is a sister company to Optimation Technology Inc., also of Rush, a business engaged in industrial engineering, design, assembly, construction and maintenance that recently became integrated with Kingsbury’s machinery manufacturing.

“This sale is in keeping with Sacmi’s desire to streamline management and focus more on the ceramics and packaging sectors,” stated Sacmi Group general manager Pietro Cassani in a news release. Cassani will join the Kingsbury-Negri Bossi board of directors.

Cassani said his presence on the board “ensures strong ties with the Sacmi Group, which remains the main supplier of high-tonnage presses, built in Imola [Italy].”

Cassani indicated sales of the large presses have been strong and employment in Imola will be expanded.

Sacmi’s product lines include Negri Bossi injection molding machines, Bi-Power line of very large presses to customers such as European auto majors like Chrysler Group LLC, and Roboline-Sytrama robotic machinery. Sytrama servo Cartesian robots include sizes for injection presses up to 7,700 tons.

Negri Bossi, owned by Sacmi for about 10 years, has reorganized under Sacmi ownership and expanded its product lines to include high-end machines. Subsidiary Negri Bossi North America is based in New Castle, Del.

Negri Bossi North America supplies Negri Bossi and Sytrama brands. The subsidiary reports directly to Negri Bossi SpA of Milan, Italy, and will continue to report to that office. Negri Bossi injection presses from 55 to 7,700 tons are available in the U.S. market. Tony Firth, Negri Bossi North America’s vice president and general manager said U.S. manufacturing of Sacmi’s former product lines eventually could occur.

Sacmi USA in Des Moines, Iowa, continues to supply Sacmi products for ceramics and beverage markets and for Sacmi’s continuous compression technologies.

“The new owners have expressed their intention to maintain the current [manufacturing] facilities, especially in Cologno and [Imola], without any personnel cuts,” Cassani explained. “In fact, the emphasis is on growth, which is being driven by the two most promising markets, the U.S.A. and the U.K.”

Kingsbury customers include the U.S. Department of Defense, Chrysler Corp. Ford Motor Co., Briggs & Stratton Corp., Whirlpool Corp. and Honeywell International Inc.

Cassani said the business segments in the transaction have annual sales of about 100 million euros.

Kingsbury’s origins date to 1860, when it was mainly a toy manufacturer. It evolved into machine tool technology and diversified into machinery. The company went bankrupt in 2011 and Optimation acquired the business and assets in early 2012. Optimation moved Kingsbury’s equipment from Keene, N.H., to a 180,000-square-foot facility in Rochester, N.Y., where Kingsbury does its manufacturing, including components for Optimation’s business. Optimation runs several sales offices throughout the United States.

Optimation is majority owned by private investment firm Owner Resource Group LLC of Austin, Texas, with Optimation founder, President and CEO Bill Pollock holding the rest. Owner Resource bought its stake in 2012.

In June 2013, Kingsbury and Kodak agreed to produce touch-screen sensors in the United States, an activity dominated by Asian factories.


Comments

US equipment firm buys Negri Bossi

By Michael Lauzon
Correspondent

Published: April 14, 2014 1:58 pm ET
Updated: April 15, 2014 10:02 am ET

Post Your Comments


Back to story


More stories

Image

Investment firm buys Ontario cap molder

October 23, 2014 2:01 pm ET

A company whose varied interests include food and refrigerated transportation businesses is now moving into plastic caps.    More

Image

Report: Private equity companies may seek to buy Bayer MaterialScience

October 23, 2014 10:56 am ET

A number of investment groups are reported to be interested buying Bayer AG's MaterialScience operation, valued at around 10 billion euros ($12.6...    More

Image

Sales, orders climbing for Wittmann Battenfeld

October 22, 2014 4:04 pm ET

Equipment maker Wittmann Battenfeld GmbH expects sales this year to increase 7 percent, to 295 million euros, as it said some key markets, including...    More

Image

Comar merging with Convergence Packaging

October 21, 2014 5:07 pm ET

A couple of plastic packaging companies owned by private investment firm Graham Partners are merging into a single entity.    More

Image

Celanese buys conductive polymer supplier

October 21, 2014 4:31 pm ET

Materials firm Celanese Corp. has acquired most of the assets of conductive polymers maker Cool Polymers Inc. for an undisclosed price.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events