At its annual meeting held last month in Milan, the Association of Italian Textile
Machinery Manufacturers (ACIMIT) elected Paolo Umberto Banfi to succeed Alberto M. Sacchi as its
chairman. Banfi, managing director and shareholder of Italy-based knitting machinery manufacturer
Comez S.p.A., has served as ACIMIT's vice chairman since 2000.
The association also reelected the current Board of Directors to serve for an additional