CF Gomma resumes production as workers return

Passirano, Italy - CF Gomma, which is being blamed for the temporary closure this week of several Fiat group factories due to failure to deliver components, has admitted that "intensive strikes" did affect all its Italian production units and, "caused the interruption of the shipments to many customers of the group." A spokesperson said the strikes have now stopped and the company is back in production. Fiat is also back to normal production.

The situation arose due to legal moves in France following a financial crisis last November at the company's French subsidiary, CF Gomma Barre Thomas SA based in Rennes, France.

Pierfederico Cancarini, one of the controlling family said, "the French subsidiary was in a 'raddrissement juidiciaire' that followed a temporary illiquidity situation last November. According to the French law a court had to choose between a 'continuation plan' of the company presented by the shareholder (CF Gomma) and any 'cession plan' of third parties presented to the court." Separately, US-based fund Silverpoint had put in a bid to buy the French subsidiary which also controls CF Gomma Poland S.p. z.o.o. based in Czestochowa, Poland. Cancarini continued, "The court chose the cession plan from Silverpoint so that the two units have been been sold, against our will. No negotiations of any type were made from us to sell the French entity."

As a result of the decision, said CF Gomma, "some intensive strikes in all the Italian plants of CF Gomma caused the interruption of the shipments to many customers of the group." Fiat has reported that five of its plants are now closed due to delays in deliveries of components from the Passirano-based company. CF Gomma said it is "actively cooperating with the customers in order to the impact of the strikes."

On its website, CF Gomma lists Daimler Chrysler, Fiat, Ford/Volvo, GM Europe, PSA Group, Toyota and VW group as its main customers. The company supplies anti-vibration goods, airsprings for trucks, boots, engine mounts, low pressure hoses, brake hoses and sealing profiles, all made from rubber.

The statement continued, "CF Gomma is at the same time completing an industrial and financial plan to assure the continuity of the group and to return to normality the supply to the customers and hopes to solve this crisis in a very short time."

Fiat has said it "reserves the right to take appropriate legal actions against CF Gomma, its stockholders and directors in order to cover any damages that may arise from the company's behaviour." It is not clear what effect this might have.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

Press release from Fiat

FIAT: FACTORIES STILL SHUT DOWN FOR LACK OF PARTS AGI (Italy)

Website of CF Gomma (Italy)