Bormioli Rocco - Crisis Period Ends

Following years of crisis, Bormioli is back in profit, recapitalized by EUR 100M and is targeting China. The most painful step in its rationalization is expected to be completed in the first part of 2004, when Bormioli closes the Saint Leonardo plant in Parma, which had been in operation since the establishment of the firm in 1825. However, the main part of the rationalization responsible for saving the group and returning it to profit, is now complete. In the fist week of November 2003, a meeting of Bormioli Rocco shareholders gave their unanimous approval to an increase in capital of EUR 100M in order to finish off the rationalisation, but also to undertake a re-launch that includes new plants in China and the Ukraine.