Alfa Gomma: Court appoints board to 'ensure business continuity'

Milan, Italy – The Milan Business Court has appointed a board of three professionals to oversee Lomabardi-based hose & fittings maker Alfa Gomma SpA.

The decree, issued 27 May, is the culmination of proceedings initiated by the company itself, the Italian rubber products manufacturer announced 18 June.

The appointees Dr Claudio Roberto Calabi, prof Andrea Amaduzzi and prof Enrico Cotta Ramusino are each said to have “specific expertise, strong credentials, and unquestionable independence.”

According to Alfa Gomma, the board is mandated to identify “the most suitable and effective management solutions” to ensure business continuity and the long-term value of the group.

The restructuring programme will be pursued through “a structured enhancement process aimed at improving the group value creation,” Alfa Gomma stated.

The board, it added, is to ensure “stable and shared governance” and preserve “the unity of the group’s management” while continuing its growth and development in core markets.

Alfagomma cited a strong first-half performance in its current fiscal year, with around 10% growth in both revenue and profitability – a trend expected to continue based on its existing order backlog.

The group's statement did explain the background to the court proceedings, but some reports cite financial issues linked to disagreement between its owners.