Solid and growing: this is the company image that prompted Fondo Italiano d’Investimento S.p.A. SGR to acquire 70% of the shares in Fonderie di Montorso
This operation, which took place last 5 February, confirmed the organisation without any management changes. The Rossi/Comello family, which owns the remaining 30% of the shares, continues to direct the company.
Patrizia Comello, president and CEO of Fonderie di Montorso, is satisfied with this transformation, which is perfectly consistent with company philosophy, and the development path that it has followed in recent years.
“The decision”, explains the president Comello, “comes from market analysis and a natural evolution of the company, which is increasingly oriented towards growth. It is based on the deep conviction that a company, even when it is managed well, should consolidate its perspectives and be self-sufficient, regardless of the shareholders.”
The Fondo‘s decision to invest in Fonderie di Montorso is a strong demonstration of confidence.
“Certainly, especially considering the nature of the Fondo. It was founded at the initiative of the Ministry of Economy and Finance and sponsored by the Cassa Depositi e Prestiti investment bank, with the specific goal of enhancing the competitiveness of Italian companies. Specifically, the Fondo d’Investimento Italiano – Innovazione e Sviluppo operates with companies that can act as ideal platforms for aggregation – so they can develop supply chains and outstanding companies in Italian industry. Our sector is undergoing a transformation process that is necessarily oriented towards aggregation. To be influential to the outside and address the growing costs that technological and management evolution brings, it is necessary to have the benefit of being able to rely on a critical mass.”
What are the company’s growth plans?
We have recently taken over a strategic supplier, and our goals is to consolidate other businesses surrounding our company, and promote a progressive internationalisation that would position us as one of the leading players in Europe. The market had a strong surge during 2017/18, but it is now on hold. So it is now even more important to have the strength to continue investing. The future of our sector relies on increased automation, as well as adopting advanced management and production systems, which can be summarised as the Industry 4.0 formula. It should also be noted that automation means greater process efficiency, without downsizing the workforce. In fact, despite significant investments in automation, Fonderie di Montorso continues to hire at an increasing rate. Human resources, including qualified personnel, are an essential aspect in a challenging sector.”