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InTech
Article date:
July 1, 1998
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Elsag Bailey Process Automation up for sale

The board of Elsag Bailey Process Automation N.V. has begun seeking offers to buy the entire company. A statement from The Netherlands-based process industries supplier said the action follows a recent decision by Finmeccanica S.p.A. to dispose of its Elsag Bailey shares. Vincenzo Cannatelli, Elsag Bailey's CEO, said: "We have worked hard in the past 24 months to restructure our business units for substantial cost savings, to divest noncore and underperforming assets, to launch significant new high-technology products, and to position Elsag Bailey as a leader in our markets. All of these improvements make our business portfolio quite attractive ...

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