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Negri Bossi: reorganisation begins to produce results, losses greatly reduced

The initial effects of the Negri Bossi reorganisation plan have begun to be felt, with net losses in the third quarter being slashed to just € 300 thousand as opposed to a negative result of €3.6 million for the same period in 2002 (against a gross operating margin of € 1.4 million with respect to a negative balance of € 1.2 million in 2002). Moreover, revenues are also up. Renzo Aletti, the company’s Managing Director, sums up the situation: ''Successful implementation of the reorganisation plan, a recovery in orders and positive signs from the US market lead us to believe that further improvement is possible in the fourth quarter and that 2004 will be the starting point for a convincing recovery”.

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