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The
sale of the assets of Carrozzeria Bertone to the
Fiat Group has been authorised by the Italian
government it was confirmed this afternoon with
the Italian carmaker's bid reportedly
financially superior to rivals offers from
Italian private equity, as well as Spanish and
Chinese bids, with Fiat promising to invest 150
million euros in the failed contract
manufacturer over the next three years which
will also include building cars for Fiat's new
partner in the U.S., Chrysler Group.
Italian Industry Minister Claudio Scajola
confirmed the news in a statement released today
although in reality once Fiat had announced its
interest in Carrozzeria Bertone the sale was
only a matter of formality. Fiat will only
acquire the manufacturing facility with the
97-year-old Bertone name itself set to be auctioned off
separately, the Italian carmaker previously
indicating that it had no interest in gaining
the rights to the badge historic design and
engineering house. "The sale to Fiat guarantees
the future of a historic Piemontese company and
in fact, the plan foresees the re-absorption of
1,137 workers, who will be gradually reinserted
into their jobs, and the integration with
Chrysler for the production in Italy of some
models for the American auto company," Scajola
said in the statement.
Fiat
CEO Sergio Marchionne had earlier this summer
indicated that he planned to use Carrozzeria
Bertone's factory for niche vehicle production
although there is no indication as yet what
might be slated to be built at the facility,
except that it will include Chrysler-branded
models,
which last turned out vehicles more than two
years ago. The only other serious bidder was
Italian businessman Gianmario Rossignolo who
planned to use the factory for the production of
a niche luxury SUV with a target of building
around 10,000 units a year. Rossignolo had also
made a failed bid to take over Bertone before it
slid into bankruptcy last February. Estimates of
current capacity at the plant vary wildly with
Fiat claiming that it stands at around 48,000
vehicles per year while the unions suggest the
figure to be closer to 100,000 annually. Around
1,100 staff are still employed at the factory
although they are all in receipt of the Italian
government's temporary redundancy payment
scheme.
The history of
Gruppo Bertone, one of the world's most famous design names and
the oldest contract vehicle manufacturing company in Italy - which was founded as
Carrozzeria Bertone in 1912 - has faded from its glory days
down to a complete standstill in recent years. Nuccio Bertone,
the son of the founder, passed away
in 1997 leading his widow, Lilli, in control of the firm's destiny. The production lines of its factory in Grugliasco,
Turin, have been idled since a contract to upgrade 2,000 MINI
models (to top specification John Cooper Works Grand Prix)
ran to a conclusion more than two years ago. Before that its
last major work was in building the convertible version of GM
Europe's last-generation Vauxhall/Opel Astra model; but that
contract ended in late 2005. Carrozzeria Bertone was eventually plunged into
bankruptcy at the beginning of last year amidst bitter
in-fighting between members of the Bertone family who still
controlled the share capital of the privately-controlled
firm with a Turin tribunal
then appointing a trio of administrators to find buyers for the
failed company.
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