The Swedish group STIGA has paid 210 bn lira for CINQUEDI. The operation enables the Swedish group to gather under its banner GASTELGARDEN, in which CINQUEDI was a 98% shareholder, and STIGA, another recent Italian acquisition, so as to form Europe's number one on the machine-tool sector. A new holding company named IGP will be responsible for controlling te new entity, with a turnover of 460 million euro expected from 2000 and a staff of 1,800.