Intermac SpA, the glass division of the Italian-based group Biesse Corporate, has concluded an agreement which will make it the sole owner of Busetti Srl, based in Bergamo, northern Italy, from 30 Apr…
Intermac SpA, the glass division of the Italian-based group Biesse Corporate, has concluded an agreement which will make it the sole owner of Busetti Srl, based in Bergamo, northern Italy, from 30 April. Busetti, which manufactures grinding, drilling, loading and unloading machinery and equipment for glass, became a member of the Intermac Group in 1997, when Intermac bought the majority of its shares. From 30 April, however, Busetti will become a brand of Intermac. According to a recent press report, Busetti“s sole director Attilio Busetti was very pleased with the agreement, which will safeguard jobs within the company and allow for the complete integration of Busetti“s management into Intermac. According to Leonardo Lacava, CEO of both Biesse and Intermac, the takeover is the first step in a programme of rationalization of the Intermac Group which includes acquisition plans both in Italy and abroad. Biesse Corporate had a turnover of ItL 6 billion in 1999 with an annual growth rate of 15% for the last three years.