Tecnomeccanica and Niche Fusina, who are the two suitors for Magneti Marelli
Race against time to save Marelli's Crevalcore plant. Tecnomeccanica and Niche Fusina submitted non-binding offers. All the details
Of the five suitors rumored in the autumn interested in purchasing Marelli's Crevalcore site (all «industrial entities with a serious reputation and medium-large size, active in the aluminum casting and processing sector for the automotive and energy sectors , all credible names with consolidated experience on the market, already examined from both a financial and industrial point of view", said Vincenzo Colla, councilor for economic development and employment of Emilia-Romagna), in recent weeks the most concrete proposals for take over the plant specialized in the processing of aluminum components for the automotive sector.
For its part, to entice investors, the Bonaccini Council has already made it known that it is ready to activate law 14/14 for the attraction of investments, as well as funds for energy efficiency and those for research in order to support the potential buyer if other expenses are necessary for the reconversion of existing production.
THE OFFERS OF TECNOMECCANICA AND NICHE FUSINA
Thus remaining on the scene, as anticipated by press sources, on the one hand are Tecnomeccanica, a company active in the same die-cast aluminum sector, whose potential investment would be 25 million for a total of 150 employees. The Piedmontese company – writes Il Sole 24 Ore – would like to install a third furnace and new machinery for processing die-cast aluminium.
The Savoy company will have to contend with the offer of the multinational Niche Fusina, with factories scattered throughout Europe, from Great Britain to France to Veneto. In Crevalcore – we read again in the Confindustria newspaper – the company would continue its current processes but the intention would be to install a new rolling mill smaller in size than those of the Veneto hub, with new connected processes. The investment would be lower, between 12 and 15 million, but the number of workers absorbed would still be close to 150 units.
THE PRETENDERS: WHO TECNOMECCANICA IS AND WHAT IT DOES
Tecnomeccanica is a foundry in the province of Novara concentrated in the production of precision die-cast aluminum components for the automotive sector and for this reason, adds Corriere della Sera , already a customer of the plant.
Active since 1945, it produces die-cast components in aluminum alloy and produces metallized reflectors for headlights in the automotive sector and heat sinks for LED lights. In 2016, Idea Sgr, part of DeA Capital Alternative Funds Sgr Spa, acquired control of the Novara-based company from the Agradi family.
At the end of 2021, the IDeA Energy Efficiency and Sustainable Development Fund then sold its stake in Tecnomeccanica to a pool of partners led by the company's current CEO, Engineer Simone Ferrucci.
As reported by BeBeez , the fund collected around 20 million euros for its 93.6% stake. Furthermore, during 2018, Tecnomeccanica acquired Mea Srl of Moncalieri from the Olsa industrial group. Tecnomeccanica closed 2020 with revenues of 20.5 million, an ebitda of 1.6 million and a net financial position of 3.5 million.
THE RIVAL: WHO IS AND WHAT DOES NICHE FUSINA ROLLED PRODUCTS
Also from the North comes the second contender, Niche Fusina Rolled Products, a company led by president Thomas Robb and CEO Vincenzo Zinniche which belongs to the US group Dada, specialized in the production of industrial aluminum laminates.
THE ACQUISITION OF THE FORMER ALCOA IN PORTO MARGHERA
This reality recently, in 2022, took over the former Alcoa plant in Porto Marghera from Slim Fusina Rolling in a composition with creditors, a company active worldwide in the production of aluminum laminates for the industrial sector.
The process allowed the saving of the production complex and 248 jobs, thanks to discussions between the social partners, the workers' representatives, the Veneto Region but above all the State which supported the relaunch operation by intervening in the capital of the new company through the Safeguard Fund managed by Invitalia.
Niche Fusina Rolled Products was awarded the Slim Fusina business unit at auction on 25 January 2022, at the base price of 14 million and 470 thousand euros with the participation, as mentioned, of Invitalia, with approximately 10 million, through the Fund Safeguarding to support activities in Italy.
INVITALIA'S PARTICIPATION
Niche Fusina Rolled Products is the newco established in joint venture by Concord Resources Limited (an English company active in the trading of primary metals and main supplier of aluminum to Slim Fusina) and Dada Holdings with a 51% stake with Invitalia as manager of the Fund to safeguard employment levels and the continuation of the business activity, which holds 49%.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/tecnomeccanica-e-niche-fusina-chi-sono-le-due-pretendenti-per-magneti-marelli/ on Fri, 12 Jan 2024 12:29:41 +0000.