Entrepreneur sells the company and donates 5 million euros to former employees
A surprise wire transfer of 2,500 euros for each of its 1,600 former employees. Thus the Swiss entrepreneur Giuseppe Marzorati decided to celebrate the sale of Cogne acciai speciali to the Taiwanese group Walsin Lihwa Corporation, to which he sold 70 percent of the shares. The steel company, world leader in the production of long stainless steels and nickel alloys, was taken over 18 years ago by Marzorati, who will remain honorary chairman.
“I spent some fantastic years with you and those who preceded you, starting from a situation of real corporate hardship and arriving instead today to represent an important, appreciated, admired, sustainable and highly regarded reality at an international level”, he said in a letter to employees.
Taxes will be deducted from the sum sent after the transfer of ownership, but a fuel bonus of 200 euros will also be added. The total outlay in favor of employees in Italy, the United States and China will be five million euros, of which three million only for the 1,150 workers in Italy, concentrated in the Aosta plant.
The new patron is Yu-Lon Chiao, chairman of the Walsin group, which after the 210 million euro operation has become “the world’s largest producer of special long stainless products”. The position of managing director has been assigned to Massimiliano Burelli, former president and CEO of Thyssenkrupp Italia.
“Production will remain here, they also intend to make investments in the Aosta site, we were not told what type,” said Fiom CGIL Valle d’Aosta secretary, Fabrizio Graziola. “What is important for us are the reassurances on production and personnel, which will not be affected in the slightest at the moment”.
#Entrepreneur #sells #company #donates #million #euros #employees