Indesit: Reorganization Plan Includes EUR 83 Million Investment in Manufacturing in Italy
Jan 3, 2014
| Print this page
An Indesit Company reorganization agreement was signed on Dec. 16, 2013, at the Ministry of Economic Development (MiSE) in Rome. Representatives from MiSE, the regional administrations of Le Marche and Campania, trade unions, and Indesit Company were on-hand for the signing.
The agreement includes plans for investments of EUR 83 million in Italy for more value-added production and use of welfare support to safeguard employees.
The agreement was reached after six months of talks and approved by a large majority (80%) of voters in a referendum on the plan organized by employees.
The EUR 83 million in investments will be initiated in January 2014 and enable an almost complete redesign of Indesit appliance lines for better performance and to make the products more competitive.
The investment will also help strengthen the group’s manufacturing base in Italy. Manufacturing reorganization projects will be implemented during the 2014-2016 period in the company's three Italian industrial clusters.
The Fabriano (Ancona) site will be the exclusive production center for premium built-in ovens. The site will also take over production of:
• premium ovens currently made in Poland
• small ovens made in Spain
• special cooking products
The Comunanza (Ascoli Piceno) plant will serve as the center of innovation and production for high-end, front-loading washing machines.
The Caserta facility will be the exclusive production center for premium built-in refrigerators. The plant will also take over production of:
• premium built-in refrigerators currently made in Turkey
• built-in gas hobs currently produced in Fabriano, some of which were originally scheduled for production in Poland
The use of "social shock absorbers," made possible by the agreement between the parties and subject to approval of the Ministry of Labour and Social Policies, will enable production to be reorganized while protecting employees.
Back to Breaking News