The Marchesini Group from Bologna, Italy, has acquired a 55% stake in Sienese company Co.ri.ma.
Marchesini is a producer of automated packaging machinery, while Co.ri.ma manufactures machines that wash, sterilise, fill and label ampoules and syringes for the pharmaceutical industry.
'Until now we've handled the products from packaging to the pallet', explained Maurizio Marchesini, the group's managing director. 'The acquisition of Co.ri.ma is important because extends our product supply range in the pharmaceutical sector, and puts us in a position to go for new markets in the pharmaceutical industry such as North Africa and the Far East. He added that: 'In a slowing packaging market we believe that the key to success is to maintain high levels of investments.'
Co.ri.ma will keep its name and management and as Aroldo Cappelletti, a Co.ri.ma shareholder, explained: 'This plan is perfect for Co.ri.ma's requirements. Marchesini's management has the industrial rather than financial mindset we needed to continue our growth.'
With profits for 2002 of €11m and revenues of around €110m, the Marchesini Group is predicting investments of around e50m for the next three/four years.
