Romaco, the machinery builder and supplier to the pharmaceutical, cosmetics, food and chemical markets, has sold its Zanchetta business, which manufactures processing and handling equipment for pharmaceutical solids, to VIMA Impianti, a wholly-owned subsidiary of IMA.
Located in Lucca, Italy, Zanchetta employs around 50 staff and had a net turnover of €10m in 2006.
Tom Luken, who joined Romaco as president in June 2006, says the transaction marks a significant milestone for the company. He explains: “Over the past two years the Romaco team has worked hard to transform its business to deliver the flexibility, efficiency and competitiveness that are prerequisite for success in the global industries we serve.
“The re-structuring operation has been very much about sharpening our focus – streamlining the company both geographically and in terms of the range of technologies we offer. We have divested business units that do not align with Romaco’s core competences, completely re-engineered our channels to market and have achieved efficient critical mass across our manufacturing operations, where significant investments continue to be made. These actions, combined with a number of key senior-level appointments, underline our commitment to our customers and create a platform for sustained success. Concluding the sale of Zanchetta means Romaco is a much more transparent and focussed business with a clear product offering of primary and secondary packaging equipment for the pharmaceutical sector and semi-solids processing equipment for the food and healthcare industries.”
Luken says the “streamlining” of the business is beginning to reap dividends: “Orders are up substantially and backlog is higher for continuing product lines; all contributing to an extremely encouraging overall picture.”
Tom Luken says Romaco’s restructuring operation is about sharpening its focus RomacoTomLuken