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Clearance sale?

November 30, -0001

Clearance sale?
News just in from Italy brings encouragement for existing and future customers of failed label press manufacturer GIDUE. The company’s assets were acquired by sister company Nuova Castagnoli and agreement has apparently been reached with the unions to retain key staff for employment in the new structure.
According to Federico d’Annunzio, the once-and-future CEO of both companies, “Despite the very uncertain economic times, the sales of existing equipment went unexpectedly fast, and in less than three months 16 GIDUE presses have been sold.” Many of these were probably 2008 orders “frozen” when the company went into liquidation, but it is nonetheless encouraging news. Even the liquidator of GIDUE, Antonio Patane, a man not normally given to exuberance, is reported as saying, “I was surprised to see how good the market response was for GIDUE’s existing stock, also thanks to the active support of Nuova Castagnoli.”

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