Marangoni appoints PwC to sell its Anagni car tyre plant

Marangoni Group has appointed PricewaterhouseCoopers Corporate Finance (PwC) as its financial advisor to assist with the company’s sales of its car and light truck tyres plant in Anagni near Rome.

According to the company, following the suspension of the production (which was announced last September) the Marangoni Group has reached an agreement with trade unions and institutions to ensure the continuation of the redundancy fund payments to the 400 employees of the Anagni plant until 31 December 2014. At the same time, a series of organizational and financial initiatives have been discussed and developed to promote and support the acquisition of the asset by new investors and to facilitate the resumption of production activities and the development of the commercial and technological activities that in the meantime have been transferred to Rovereto.

Massimo De Alessandri, Marangoni Group CEO, said in a statement: “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 Anagni 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.”

Managers of the Anagni plant, which has a production capacity of over 3.5 million tyres a year, will soon initiate contacts with potential investors. More details are expected to follows as negotiations are opened.