Bertone Trying to Get Sale Done by Feb 1
By Brendan Moore
Legendary design house and car maker Carrozzeria Bertone is desparately trying to get a deal done through which Domenico Reviglio will acquire the bankrupt coachmaker. Reviglio, a turnaround specialist, is proposing to save the company by purchasing Bertone from Lilli Bertone, the company’s majority shareholder, chairman, and CEO.
An Italian bankruptcy court placed Bertone in court administration on January 15, and also rejected a previous turnaround plan submitted by Bertone officials, so there is some urgency to consumating the acquisition before the court decides to recommend some other action. Bertone has not built a single car since 2005, and it has gradually fallen into insolvency since that time.
Reviglio’s plan for Bertone says the company will pick up a contract for a small commercial vehicle, an electric version of an existing gasoline engine car, and a havy-duty commercial truck. All of this expected to bring in approximately 39 million euros in revenue in 2008, and 62 million euros in 2009. No word yet on how that business will be sourced at this time.
2008 Bertone Barchetta concept
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