EXHIBITIONORI Martin is furthering its vertical integration strategy by acquiring a significant piece of automotive components history, namely the assets of Villar Perosa ex-Riv in Turin. It is a mechanical company founded by Giovanni Agnelli in 1906, which - over the years - became an integral part of the subcontracting network of Fiat Milanofiori. ORI Martin entered into a rental agreement for one of the branches of PrimoTECS S.p.A., Riv's managing company. This agreement lays the groundwork for ORI Martin to purchase these assets.
The operation was carried out by NewCo Officine Meccaniche Villar Perosa, established by ORI Martin for this purpose. The scope of the operation includes an extensive range of assets, including a Hatebur park and machining lines, heat treatment furnaces. With an annual turnover of approximately 60 million euros, the company offers a wide range of steel solutions for transmission, engine and components for the automotive sector.
Officine Meccaniche Villar Perosa is preparing a significant investment plan aimed at relaunching the company through a plant revamping, acquiring increasingly qualified customers and obtaining strategic approvals for the automotive supply chain.
"This represents a significant industrial opportunity - states Giovanni Marinoni Martin, Vice President of ORI Martin - to revive a historic plant, which has been a key player in the Italian components sector for decades, and to bring back productions - currently carried out in non-EU countries - to Europe."
"The acquisition aligns precisely with ORI Martin Group's strategy -emphasizes Roberto de Miranda, Member of the Executive Committee of the Parent Company - aimed at verticalizing our product without competing with our clients. We are, in fact, opening ourselves to new markets, through a significant investment plan and the retention of the current workforce (approximately 360 employees).”
The NewCo will be headed by Ing. Paolo Sandrone as CEO.