Strategic streamlining of manufacturing footprint in Italy from 7 to 5 sites
Pfäffikon SZ / Rivoli (To), April 10, 2012 – Oerlikon Graziano today announced the streamlining of its manufacturing footprint in Italy to further improve operational performance. Oerlikon production at the Garessio plant will be relocated to other Graziano sites and a Letter of Intent has been signed to sell the plant in Porretta Terme to Paritel S.p.A., a private Italian company, for an undisclosed price.
Oerlikon Group CEO Michael Buscher said: “Today’s announcement demonstrates a further step in the continuous optimization of the Oerlikon portfolio. This move will significantly reduce costs and deliver long term benefits as Oerlikon Graziano becomes a more sustainable and competitive business.”
Production will migrate from the Garessio to four of the remaining five sites in Italy. The synchronizers business will be relocated to India as part of the “Worldwide Center of Excellence” for those products. Production at Garessio is forecast to halt at the end of the year. All 84 Garessio employees will be entitled to relocate to other Graziano locations. At Porretta Terme,
At Porretta Terme, current assets, the majority of the business and the 238 employees will be transferred to Paritel. Strategically important products for Oerlikon Graziano manufactured at Porretta Terme will be transferred to the remaining Italian plants of Oerlikon Graziano. The process of transferring the employees to Paritel will be conducted under the provisions of Italian laws. Oerlikon Graziano currently employs about 2 300 people in Italy.