The local press in the region of Trentino Alto Adige in Northern Italy has reported that the Marangoni Group is close to finalising a deal to separate Marangoni Meccanica, the branch of the company specialised in the construction of new tyre manufacturing equipment, from the main body of the Marangoni Group.
Additional Capital to Be Raised
This would be achieved by selling the majority of the share capital of Marangoni Meccanica to two institutional investors in the region, La Finanziaria Trentina, a holding company for a group of 74 local investors and entrepreneurs, and the Alto Adige Alpenring, a South Tyrolean Financial Group under the control of the Oberrauch family.
It was reported that the additional capital provided by the investors would allow the company to reactivate ongoing orders and relaunch the business. The Marangoni Group has confirmed that talks are ongoing regarding Meccanica and are in the finalisation phase. More information will be revealed once this phase is completed, says to company.
In one article entitled “Marangoni Sells the Family Jewels”, the regional newspaper L’Adige also reported that under the partnership agreement last November, Vipal had now acquired a 51% share in Marangoni Tread North America.
This drew an immediate and stiff response from Marangoni, who pointed out that the completion of preliminary operations in the strategic co-operation with Vipal in the retreading sector fell within a completely different strategic line to the ongoing negotiations relating to Marangoni Meccanica, whose focus is on machinery for new tyre production.