Marangoni seeks buyers for Anagni plant

ERJ staff report (RPN)

Rovereto, Italy − Marangoni S.p.A. has hired PricewaterhouseCoopers Corporate Finance to help the company negotiate the sale of its car and light truck tire plant in Anagni, central Italy, reported Rubber & Plastics News.

Production in Anagni was suspended in September, 2013, idling 400 workers.

Following that, the Marangoni Group reached an agreement with trade unions and institutions to ensure the continuation of the redundancy fund payments to the 400 employees of the plant until 31 December 2014.

Marangoni said it has discussed "a series of organisational and financial initiatives" and "developed to promote and support the acquisition of the plant by new investors." The Marangoni Group, with help from PricewaterhouseCoopers, will initiate contact with potential investors in the near future.

Commercial and technological activities have been transferred to Marangoni's plant in Rovereto (north Italy).

Marangoni said the Anagni plant has a production capacity of more than 3.5m units per year. It said it has continued to nurture its relations with the market and with its customers by using existing stock and supplementary supplies from the Modular Tire Machinery production area located in Rovereto.

"It is our intention, as well as that of the local institutions and trade union representatives to try to ensure a future for the wealth of skills, technology and experience located at the Anagi plant, arranging the terms of the sale of assets and the resumption of the activities through formulas and methods that satisfy a wide range of options for entry and investment," said Massimo De Alessandri, Marangoni Group CEO.

Marangoni, better known as a retreader and supplier of retreading equipment and materials, went into new tire manufacturing in 1988 when it took over the plant in Anagni from the former Ceat Pneumatici S.p.A.