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June 3, 1997updated 05 Sep 2016 12:30pm

PIEDMONT HELPS ITS OLIVETTI PC BUY BACK TO PROFIT

By CBR Staff Writer

Piedmont International SA says that its recent acquisition, Olivetti Personal Computers SpA (CI No 3,112) is on its way to restoring itself as a major player in the personal computer market. Piedmont has said it has made provisions with the help of Merrill Lynch International of London that will enable Olivetti to have access to an additional $100m secured facility, on top of its planned $80m of equity capital. Olivetti said it would be back in profit within 12 months in March (CI No 3,121) and Piedmont believes the agreed financing will act as a launchpad for the future.

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