Banks Agree to Restructure Maschio Gaspardo Debt

Senior managers at Maschio Gaspardo, the Italian farm equipment group with a North American operation based at DeWitt, Iowa, have successfully negotiated debt restructuring with 24 creditor banks in line with a new business plan formulated last year.

Massimo Bordi, chief executive officer, says, “The signing of this agreement with the banks is a key step in the group’s consolidation and development plan, and it enables us to look to the future with great optimism.”

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