ITB Auto to take over idled Italy plant to produce Chinese minicars [Yahoo! Finance Canada]
Lear Corporation (LEA)
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Source: Yahoo! Finance Canada
The ministry made the announcement after chairing crisis talks in Rome about the future of the Grugliasco plant near Turin, currently owned by U.S. auto parts company Lear Corporation. Lear's Grugliasco plant is one of many suppliers hit hard by the collapse of automotive production in Italy, which last year dropped to a nearly 70-year low. The ITB plan foresees the production of 20,000 minicars per year and the re-employment of 200-250 of the plant's 376 workers, the ministry said. "Today we are laying the groundwork for another (industrial) crisis to be put on the path to recovery," Industry Minister Adolfo Urso said. "We will continue to monitor the protection of jobs and the site's actual industrial revitalization, in close dialogue with the company, local institutions, and trade unions," he added. ITB hopes to close the deal by end-2025 and start production in the first quarter of 2026, the ministry said. The Fim-Cisl, Fiom-Cgil and Uilm trade unions, which took part
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- Lear Declares Quarterly Cash Dividend [Yahoo! Finance]Yahoo! Finance
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- Lear Declares Quarterly Cash DividendPR Newswire
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- 11/21/25 - Form 4
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