Sunday, October 18, 2009

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Project: agreement with Pininfarina


In operation, the plant was bought by Pininfarina in Grugliasco FinPiemonte-Investments SpA, a holding company of the Piedmont Region

Agreement Pininfarina, Rossignol and the Piedmont Region for the historic Grugliasco : IAI society, Innovation in Automobile Industry Ltd., which is headed by entrepreneur Gian Mario Rossignolo, has signed a preliminary agreement with the company Pininfarina SpA the acquisition of a business line.
The preliminary agreement signed by Gian Mario Rossignolo, president of IAI, will acquire all the equipment of the Pininfarina plant in Grugliasco (Torino). As part of the operation, the plant was bought by Pininfarina in Grugliasco FinPiemonte-Investments SpA, a holding company of the Piedmont Region. The acquisition of IAI, said in a note, part of a broader plan that provides for the production of high-end cars made of aluminum with highly innovative technologies. In the industrial project

IAI also includes the involvement of the company's Delphi Livorno has a significant experience in mechanical, activity, in addition to the experience developed by Pininfarina in Grugliasco. With regard to employment, IAI provides a total intake of about 1,100 employees working in the Pininfarina plant in Grugliasco Delphi and Livorno.
"With the signing of the preliminary agreement - said Gian Mario Rossignolo, president of IAI - I would like to emphasize my satisfaction for having the opportunity to realize a major project that will have national industrial spin-offs for the city of Turin and Livorno and the great tradition of Italian automotive industry. Finally, I would emphasize that the operation has had the valuable support institutions of Piedmont and Tuscany, to whom I extend my personal thanks, who believed in our project of industrial restructuring in a position to secure the future of 1,100 employees between Torino and Livorno.

The contract included a commitment to Pininfarina IAI to sell to a business unit consists of: 1) machinery, equipment and accessories currently located at the Grugliasco instrumental to bodywork and painting of motor vehicles except those used specifically for the current production of Pininfarina; 2 ) The existing contracts in place between Pininfarina Pininfarina 900 employees and production workers (including 875 workers and 25 employees), 3) the severance pay for employees transferred to the financial provisions which IAI will be transferred in full to the date of execution of the contract, 4) a lease for all the Grugliasco factory, with the exception of the Wind Tunnel, (the Property), as well as the service and utility contracts and certifications pertaining to.

pininfarina_grugliasco.jpg
The business does not include assets and liabilities other than the severance pay for transferred employees, nor the contracts for all contracts in progress and their debit and credit positions of Pininfarina or litigation existing at the date of execution . The contract provides for guarantees of IAI use for any contingent liability of the business transferred, as well as a specific commitment of funding agencies in the agreements of 31 December 2008 and the Fortis Bank (collectively, the creditor banks) and the declaration of consent to the operation did not take action against IAI for any debts of the business transferred.



IAI will enter into a subcontract, at cost, with Pininfarina for the premises, equipment and vehicles, plant and human resources required for the provision of services of bodywork and painting for a continuation until the end of production orders for customers Alfa Romeo and Ford. It 'also expected to sign a cooperation agreement concerning the styling of the first production vehicle IAI. If requested by Pininfarina, IAI will enter into a service contract of painting, in market conditions, a period of years from the expiry of the contracts currently managed by Pininfarina.


the same time as signing the contract with IAI, and as an integral part of the operation, Pininfarina has received from FinPiemonte-Investments SpA (holding company headed by the Regione Piemonte) an irrevocable offer to purchase, subject to expert opinion, the entire property to the exclusion of the wind tunnel (now the property is mortgaged in favor of Fortis Bank) and the proceeds from the sale will be used to finance severance pay transferred employees and guarantees and other charges arising from the operation.

The date of execution of all instruments of transfer will be by December 31, 2009 (subject to the fulfillment of certain conditions precedent).

"It is believed this opportunity," it said in a statement Pininfarina, "of great interest." At the conclusion of the transaction, the company "would be properly sized to be able to develop their future production, styling and engineering consistently and dramatically accelerated its business plan. The cooperation of the unions, public bodies and the creditor banks is considered essential to the success of the operation which is particular importance for the maintenance of employment and the continuation of the restructuring process to ensure business continuity, priority of society. "


taken from www.repubblica.it

October 15, 2009



PININFARINA: MAYOR

LIVORNO, IMPORTANT NEW BUSINESS (AGI)


Livorno

October 15 - "We are facing the final phase of the Delphi story and the beginning of a major new industrial undertaking a
Livorno

. "said the Mayor of
Livorno, Alessandro Cosimi, at the end of This afternoon is dedicated to the new car industry that IAI, based in Livorno , will become 'the former Delphi workers. "The purchase of the Pininfarina plant in Grugliasco by the Piedmont Region - said Cosimi - and its subsequent lease to Rossignolo determines the situation in which IAI, which is based in Livorno
, go to purchase this branch of business Pininfarina in Turin. This 'will imply' return to work of the 170 laid off Delphi as well as a portion of employees Pininfarina. " "We hope that this will happen based on the timing of the company made within the month of November. The route that these workers, the unemployment benefits expired, with severance pay accrued in Delphi pass in IAI. "" From that moment, everything will take place 'on the table of negotiations between unions and business. The times were scanned in a relationship between employer and trade union negotiations and now, even when it comes to business plan, you move up that table. "" I would say that even in moments of "silence" there 'was a great work of the institutions. Today we take the fruits of that commitment. "" For me - and you 'hope - is truly a great satisfaction to see the workers and their families to spend next Christmas with a hope for the future. "" I remember the very serious work done in recent months by Region, Province and Municipality of Livorno
, Contractor, trade unions and workers. It 'also true that, at times, and' work was a "concealed" and very private, particularly at this late stage for conditions that also covered public companies and was therefore avoided incurring the wrath of Consob, but was necessary to do so '. "" It seems to me - said Cosimi - to say that we are now channeled to the choice of tables for the implementation, and e' then a moment when we must be really pleased with the work. "(AGI)
Source: senzasoste
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