Kingsbury Corp. has signed to sell a majority stake of Negri Bossi S.p.A., an Italian company active in the manufacture and sale of injection moulding machines and robot equipment, to Nissei Plastic Industrial Co., Ltd.. The closing is expected in January 2020 and Kingsbury Corp. will maintain a minority stake in the Company.
By acquiring a stake in Negri Bossi, Nissei will be able to expand and strengthen its business domain in the injection moulding machine field. The combination of Nissei’s injection moulding machines and Negri Bossi’s injection moulding technology is expected to expand each product portfolio and provide a comprehensive solution to a wide 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 moulding machines.
“Negri Bossi is a well-established injection moulding machine manufacturer in Italy with more than 70 years of history, and this acquisition will enable respective business enhancement based on a reciprocally complementing relationship by geographical and product type perspective. Consolidated sales of the Nissei group will hit approximately 50 billion Japanese yen (€420 million). In addition to the integration of production, sales and service, we will be able to achieve further growth through global marketing with robot companies” Mr Yoda, President and Representative Director of Nissei said.
From Negri Bossi side Mr. Craig Ward, General Manager, gave his comment: “This new partnership will elevate us to the status as one of the top ten suppliers worldwide for the supply of plastic injection moulding machines. The strategic choice to purchase Negri Bossi was based on very strong potential synergies such as our strong geographical footprint in Europe and East coast of America compared to theirs of the Far east, Asia and west coast of America. In terms of product they have a history of direct lock machines whilst we have always been known for our toggle machines. We are able to offer high tonnage machines were as they currently only go to 1300ton whilst they are able to offer to market vertical machines. We are, and will continue to, be Negri Bossi with our machines and our people as that is what our customers want. The only difference now is that we have a strong industrial partner behind us who understands our market and whom can support us in order to better service our customer’s needs”