SGM: Restructured and Stronger Than Ever
After a period of disagreement between SGM shareholders regarding the future capital structure of the company, the board of directors has had no other option than restructure the company.
On 9 November, SGM was completely re-established with its new shareholder and capital. The management has maintained that SGM will continue as before without any changes - and stronger than ever.
The team behind SGM is will remain unchanged, as will its worldwide distributor network, while all warranty commitments will also be identical.
The new ownership relates to investment company, Eurofinim, whose CEO, Paolo Covre, wants to carry on SGM in the spirit created by Peter Johansen and ensures so by Peter Johansen’s continued role as CEO of SGM.
Paolo Covre stated: “I have followed SGM from the sidelines for quite some time, and I find the company’s visions both sensational and impressive with regards to its scope, high pace and innovative solutions. This is the kind of company I trust and I am honoured to be a part of, and it just needed a financial injection to continue and enhance its growth.”
Johansen has been positive towards the new investor’s wishes for SGM’s future. “Paolo and I share many viewpoints and I am sure he will become a great asset for SGM. I am happy to have him on board. SGM is now stronger and more motivated than ever before. We will continue our growth, developing the innovative products we believe in. We are confident that the misleading rumours we have unfortunately incurred into will be immediately disregarded”, he said.
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