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Old 12-12-2008, 07:43 AM   #1
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Default GRP sold to china

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According to Italian newspaper ‘Il Sole 24 Ore’, engine and tire manufacturer GRP Gandini has been sold to a Chinese investor. The move follows some financial difficulties for the competition brand following bad months for sales in September and October. This led to the investment bank wanting out and so the owners, Stefano and Maurizio Gandini, were forced by the banks to sell the concern, which they started in 1994.
The sale, said to be in the region of six million euros, leaves the former owners no longer at the helm of the company, but both will stay on as technical advisors. It not confirmed whether the production will move to China where the paper claims production costs will be 1/3rd of that in Europe. We have contacted GRP for comment and will add their response when we get it.
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Old 12-12-2008, 09:07 AM   #2
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Neobuggy has a response from GRP dening the Italian Newspaper story.
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Old 12-12-2008, 09:09 AM   #3
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+1 Neobuggy already has a statement from GRP that the newspaper article is wrong.
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Old 12-12-2008, 09:38 AM   #4
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Old 12-12-2008, 10:15 AM   #5
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I'm soooo glad that was all a misunderstanding and that not everyone in this industry will shamelessly whore themselves out in the name of turning a quick profit.

I'm seriously ontemplating picking up one of their mills in the new year. Had the takeover been confirmed, I would have dropped the idea faster than a hot potato.
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