The bleeding continues jobs in the automotive sector. After the outbreak of the crisis in 2021, the Speedlinewell-known factory that produces wheels in light alloyhopes for the appointment of a commissioner.
The trade unions are demanding this after Speedline filed a complaint with the Venice Courtinsolvency petition and request for extraordinary administration. The company’s crisis, detected by the German Callista Fund just over a year ago, it was also discussed in a meeting at the Ministry of Made in Italy.
Speedline Crisis
Speedline’s request to Court of Venice to undertake theextraordinary administration follows a deep crisis based on a 2023 budget deficit and on the impossibility of implementing the industrial plan. Despite the staff reduction from 400 to 273 employees and a hundred or so workers in related industries, the salaries have always been paid thanks to an agreement solidarity contracts.
Michele Valentini of Fiom Cgil of Venice observes that the company, now with a adequate workforce to production needs, it could have opportunities for relaunch.
Court appoints extraordinary administrator to save Speedline
The hearing is set for theSept. 11and the appointment of a extraordinary administrator could disempower Callista from the management and thus save Speedline and the factory Saint Mary of Sala. An extraordinary commissioner could to revoke previous decisions, including the agreement between Ronal and Callista over Speedline’s assets, simplifying the search for a new investor. In addition, there are slopes regarding liability actions for violating the July 2023 agreement, which provided for not being subjected to insolvency proceedings for two years.
This situation occurred a year later, and it is believed that it could have been avoided with adequate capital injection by Callista. The President of the Veneto Region, Luca Zaia, urges the owners and management to behave responsibly to facilitate the resolution of the crisis.
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