ITALY: Sewing Machine Firm Necchi Triples Q4 Loss
Italian sewing machine producer Necchi on Friday revealed it more than tripled its consolidated fourth quarter loss to $21.6 million from $6m in the year-ago period. The company said its turnover for the quarter fell to $11.7m from $13.4m while its operating loss widened to $17.9m from $14.7m in 2001.