Italian plastics machinery maker Negri Bossi SpA is for sale.
A European machinery executive who has knowledge of the deal confirmed the information with Plastics News Oct. 20, the fifth day of the K trade show.
“They did the due diligence, so there is somebody that is interested to buy the company,” the source said.
The source could not disclose who the potential buyer is but said eight buyers were narrowed down to four, following due diligence. The source said the deal is probably “very close” to closing but could not say when it would be finalized.
Milan-based Negri Bossi has changed hands before.
In 2014, Italian plastics equipment major Sacmi Group sold Negri Bossi to Kingsbury Corp., a machinery firm based in Rush, N.Y. AuSable Capital Partners LLC of Santa Monica, Calif., also bought a stake in the company.
Negri Bossi makes injection molding machines up to 7,000 metric tons. It also supplies the Sytrama-brand of part removal robots.
Senior reporter Bill Bregar contributed to this report.
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