20.02.2009

Raimondi goes

We now have confirmation that Italian tower crane manufacturer Carlo Raimondi has entered administration after failing to put a rescue package together.

The company was merged into the S.I.M.E. Group in 2006, it is not clear if rental company S.I.M.E is affected by the Raimondi difficulties.

We understand that a last minute attempt to sell the business as a going concern has stalled due to failure to agree valuations as well as the amount required to rescue the business.

We have so far been unable to obtain a comment from anyone at Raimondi, news of the company’s demise reached us late last week, but it has taken us several days to obtain confirmation that satisfied our minimum criteria for such information.