ACIMIT, the Association of Italian textile Machinery Manufacturers, had the Annual General Meeting of the Association in Milan last June 28th, 2005.

During the private part of the meeting of ACIMIT, the Board of Directors were renewed as their terms had expired. The new Board will stand for the two-year period 2005/2006 (this may then be renewed for a further two years).

Mr. Paolo Banfi was elected as new Chairman of ACIMIT, succeeding Alberto M. Sacchi. Paolo Banfi is Managing Director and shareholder of Comez. S.p.A. and was already Vice Chairman of the Association since 2000.

The textile industry machinery sector is a crucial area of expertise and excellence within the Italian industrial system. Italian companies (about 350) are at the leading edge of the world sector, with approximate turnover of Euro 2,900 million. In 2004, 76% of which (Euro 2,200 million) comes from foreign markets. The sector provides a positive contribution to the Italian trade balance of Euro 1,635 million.

ACIMIT gathers more than 200 Italian textile machinery and accessory companies, whose production represents 85% of the entire Italian textile machinery production, and 13 associated members (consortia, technical schools, technical magazines, research centres).