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Announcement of acquisition of shares and all of NEGRI BOSSI S.P.A. (NEGRI BOSSI) Group, the injection molding machine manufacturer in Italy

  • 2019/11/21 Corporate Information
  • This is to announce that the Board of Directors' meeting of Nissei Plastic Industrial Co., Ltd. (“Nissei”) held today has decided to acquire a controlling interest in NEGRI BOSSI S.P.A. (NEGRI BOSSI) Group, headquartered in Italy, manufacturing and selling injection molding machines.

    1. Purpose for Acquiring Shares
    NEGRI BOSSI, established in 1947 in Milan, Italy, is the number one injection molding machine manufacturer in Italy, with a wide range of high-performance injection molding machines. In particular, NEGRI BOSSI is specialized in ultra-large injection molding machines and molding systems and provide products and solutions tailored to each customer mainly in the automobile industry. In addition, sustained by NEGRI BOSSI’s strong product development capabilities and flexible customization capabilities to meet customer needs, NEGRI BOSSI has a particularly strong presence in Europe and a solid customer base in a wide range of industries. Nissei plans to acquire 75% of the Group's shares for the time being and the remaining 25% within a few years.
    By acquiring a stake in NEGRI BOSSI, NISSEI will be able to expand and strengthen its business domain in the injection molding machine field. The combination of Nissei's injection molding machines and NEGRI BOSSI's injection molding technology is expected to expand each product portfolio and provide a comprehensive solution to a wider customer segment. Nissei will also utilize the R&D and sales capabilities of NEGRI BOSSI to expand Nissei's strengths in small and
    medium electric injection molding machines.

    2. Current Outline of NEGRI BOSSI S.P.A.
    (1) Name: NEGRI BOSSI S.P.A.
    (2) Location: Viale Europa, 64 20093 Cologno Monzese (MI), Italy
    (3) Name and Title of Representative: Matthew Galvez, Chairman
    (4) Business Description: Manufacture and sale of injection molding machines and robot equipment
    (5) Capital Stock: 10,374 (1000 €)
    (6) Date of Establishment: 1947
    (7) Major Shareholders and Ownership Percentage: Kingsbury Corp., 99.9%
    (8) Relationship between Nissei and NEGRI BOSSI S.P.A:
      Capital Relationship: None
      Personal Relationship: None
      Business Relationship: None
    (9) Operating Results and Financial Condition of NEGRI BOSSI Over the Last Three Years (Unit: 1000 €):
      Accounting Period: [A]Fiscal Year ending December 2016 / [B]Fiscal Year ending December 2017 / [C]Fiscal Year ending December 2018
      Net Assets: [A]12,168 / [B]11,868 / [C]10,322
      Total Assets: [A]105,005 / [B]100,717 / [C]97,812
      Sales (Net): [A]108,430 / [B]105,671 / [C]94,544
      Operating Income: [A]3,738 / [B]2,201 / [C]-345
      Net Income: [A]1,417 / [B]-165 / [C]-1,855

    (1) Date of Resolution of Board of Directors : November 21, 2019
    (2) Date of Signing of Share Purchase Agreement : November 21, 2019
    (3) Date of Closing : January 2020 (Expected)
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