Nuova Castagnoli takes over GIDUE activities

GIDUE S.p.A., a press manufacturer active in the label and packaging market since 1999, filed for voluntary winding-up on December the 22, 2008. The fiscal year 2008, which ended on July 31, 2008 had been the top-record year in sales (34 million Euros) for GIDUE. The sales forecast prepared by the world wide sales network aimed at a further 10 to 20 percent growth in 2009, which confirmed the usual growth trend of GIDUE over the years. Unfortunately, the global recession hit the company far beyond any expectation, causing an unexpectedly strong downturn in sales.