Latest news with #AdolfoUrso
Reuters
5 days ago
- Automotive
- Reuters
Italy to seek guarantees on jobs and know-how as Iveco is sold to Tata
MILAN, Aug 6 (Reuters) - The Italian government will monitor the sale of truckmaker Iveco ( opens new tab to Indian group Tata Motors ( opens new tab to make sure the company's jobs, manufacturing footprint and local know-how are preserved in Italy, the industry minister said on Wednesday. India's Tata Motors last week agreed to buy Italy-based Iveco in a deal valuing it at 3.8 billion euros ($4.4 billion), while the truck and bus maker separately announced the sale of its IDV defence business to Leonardo ( opens new tab, giving it an enterprise value of 1.7 billion euros. Tata Motors pledged not to intervene for two years in Iveco's workforce, organisation and governance, and avoid any material restructuring or plant closures, according to the statement that announced the deal. The sale is expected to be finalised in 2026. The Italian government "will continuously monitor the sale process to ensure utmost guarantees for the industrial and employment future of all production sites in the country", Industry Minister Adolfo Urso said in parliament. "We will monitor all aspects related to the protection of technology, research and industrial heritage, resorting, where necessary, to the tools provided for by current legislation to ensure adequate protection of assets of strategic importance." Iveco, which is controlled by Italy's Agnelli family via their investment company Exor ( opens new tab, closely coordinated with the Italian government as it finalised the Iveco deals, a source with knowledge of the matter told Reuters this week. ($1 = 0.8601 euros)
Yahoo
25-07-2025
- Business
- Yahoo
Carrefour sells Italian supermarkets to NewPrinces for €1 billion
Carrefour supermarkets in Italy will soon be in the hands of Italian food multinational NewPrinces Spa, who announced the roughly one billion euro purchase on Thursday. The NewPrinces group owns the Plasmon, Centrale del Latte, Giglio, Polenghi Lombardo and Delverde food manufacturing brands, among others. The acquisition of approximately one thousand shops now requires authorisation from the relevant authorities, with a view to closing by the end of the year with Carrefour Nederland Bv and Carrefour Sa. With this transaction, the Reggio Emilia-based company reaches a potential turnover of 11 billion euros, becoming the second-largest Italian group in the food sector by turnover and the largest operator in terms of employment, with 13,000 employees in Italy and more than 18,000 worldwide, as well as 11,000 in related industries. "The acquisition of Carrefour Italia represents a fundamental step in the growth trajectory of our Group," said NewPrinces Group Chairman Angelo Mastrolia, "with this operation, we take a decisive step towards vertical integration between production and distribution, strengthening our ability to generate value along the entire supply chain." NewPrinces may decide to relaunch the Gs supermarket brand and rename the stores after three years. The food retailer was founded in Italy in the 1960s and was replaced by Carrefour stores in 2010. Related Approved: Paramount's $8 billion deal with Skydance can go ahead Exclusive: Chinese electric carmaker Zeekr eyes pan-European growth despite tariffs, acting CEO says Unrest proclaimed among Carrefour workers After the news of the takeover, the trade unions Filcams CGIL, Fisascat Cisl and Uiltucs declared a state of strike due to Carrefour Italy's failure to respond regarding the workers' prospects. The unions have asked for a meeting at the Ministry of Enterprise and Made in Italy to 'review the recovery plan', which is expected to include brand and development investments totalling more than €400 million between the seller and buyer. Minister Adolfo Urso expressed his "appreciation for an operation that strengthens Made in Italy," confirming that he will soon meet both Mastrolia and the unions. The French newspaper Les Echos commented on the news, writing that Carrefour 'removes a thorn from its foot', as its Italian operations were recording annual losses of €180 million. Carrefour president, Alexandre Bompard, assured the newspaper that he was leaving "Carrefour Italy in good financial condition."
Euronews
25-07-2025
- Business
- Euronews
Carrefour sells Italian supermarkets to NewPrinces for €1 billion
Carrefour supermarkets in Italy will soon be in the hands of Italian food multinational NewPrinces Spa, who announced the roughly one billion euro purchase on Thursday. The NewPrinces group owns the Plasmon, Centrale del Latte, Giglio, Polenghi Lombardo and Delverde food manufacturing brands, among others. The acquisition of approximately one thousand shops now requires authorisation from the relevant authorities, with a view to closing by the end of the year with Carrefour Nederland Bv and Carrefour Sa. With this transaction, the Reggio Emilia-based company reaches a potential turnover of 11 billion euros, becoming the second-largest Italian group in the food sector by turnover and the largest operator in terms of employment, with 13,000 employees in Italy and more than 18,000 worldwide, as well as 11,000 in related industries. "The acquisition of Carrefour Italia represents a fundamental step in the growth trajectory of our Group," said NewPrinces Group Chairman Angelo Mastrolia, "with this operation, we take a decisive step towards vertical integration between production and distribution, strengthening our ability to generate value along the entire supply chain." NewPrinces may decide to relaunch the Gs supermarket brand and rename the stores after three years. The food retailer was founded in Italy in the 1960s and was replaced by Carrefour stores in 2010. Unrest proclaimed among Carrefour workers After the news of the takeover, the trade unions Filcams CGIL, Fisascat Cisl and Uiltucs declared a state of strike due to Carrefour Italy's failure to respond regarding the workers' prospects. The unions have asked for a meeting at the Ministry of Enterprise and Made in Italy to 'review the recovery plan', which is expected to include brand and development investments totalling more than €400 million between the seller and buyer. Minister Adolfo Urso expressed his "appreciation for an operation that strengthens Made in Italy," confirming that he will soon meet both Mastrolia and the unions. The French newspaper Les Echos commented on the news, writing that Carrefour 'removes a thorn from its foot', as its Italian operations were recording annual losses of €180 million. Carrefour president, Alexandre Bompard, assured the newspaper that he was leaving "Carrefour Italy in good financial condition."
Fashion United
24-07-2025
- Business
- Fashion United
After labour scandals: Italian government mulls regulation to safeguard Made in Italy's reputation
The Italian Ministry of Enterprises and Made in Italy (Mimit), the government body responsible for supporting businesses and local production, is reportedly considering the introduction of a certification system after the brand Loro Piana was placed under judicial administration for alleged workers' rights violations. According to Reuters, Adolfo Urso, minister of businesses and made in Italy, told trade associations during the Fashion Table on Tuesday that some illegal companies in the fashion supply chain have tarnished the image of "made in Italy". According to a statement by Mimit, "to counter the illegal behaviour of a few in the field of labour, which could compromise the reputation of the entire sector, Urso pointed out that the government 'is working on a regulation to certify the sustainability and legality of companies in the sector, with the aim of offering a structural solution to the problem'." The regulation aims to certify the supply chain belonging to the brand owner, based on specific preliminary checks, so as to exclude the latter from being held responsible for illegal or opaque behaviour attributable to suppliers or subcontractors along the chain. Last week, LVMH's cashmere brand Loro Piana was placed under judicial administration for one year for allegedly subcontracting production to suppliers who exploited workers. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Express Tribune
24-07-2025
- Business
- Express Tribune
Italy cracks down on fashion sector
A few unlawful businesses in the fashion supply chain have tainted the image of 'Made in Italy', Italy's industry minister said on Tuesday, adding that he is working on a certification scheme to remedy this after the latest high profile case. Cashmere company Loro Piana, controlled by French luxury group LVMH, was put under judicial administration last week after prosecutors uncovered evidence of worker abuses in its supply chain. The label was the fifth high-end brand to undergo such court monitoring in Italy since early 2024. "We cannot allow the illicit behaviour of a few to compromise the reputation of the entire sector, penalising many virtuous companies and, consequently, our Made in Italy brand, which is a symbol of excellence and quality," minister Adolfo Urso told fashion trade bodies during a meeting, according to a source. The ministry is working on a measure to certify the sustainability and legality of companies in the supply chain in advance, he added, so that brands do not have to answer for the conduct of their suppliers or subcontractors. Units of fashion brands Valentino, Dior, Armani and Italian handbag company Alviero Martini were previously placed under administration in Italy for similar alleged worker exploitation. In the case of Loro Piana, the Court of Milan found it "culpably failed" to adequately oversee its suppliers in order to pursue higher profits, according to the ruling. Prosecutors in that case said the violation of rules among fashion companies in Italy was "a generalised and consolidated manufacturing method". Italy is home to thousands of small manufacturers that make up 50 to 55 per cent of global luxury goods production, consultancy Bain has calculated. Italian legal and political authorities, fashion industry bodies and trade unions signed an action plan in May to fight worker exploitation in the apparel and accessories supply chain, after prosecutors uncovered widespread abuse. Reuters
