De Tomaso majority probably to China after Rossignolo loses majority
Recently the Rossignolo family admitted they’ve sold the majority in de Tomaso, presumably to some Chinese investors. An official press release stated “a group of automobile experts are the investors, and are absolutely convinced about the industrial plans set out.” They did not tell who came to the rescue, but it is believed a Chinese consortium is the financial investor and it could be a light at the end of the tunnel for the 1,000 Grugliasco workers. This should also confirm our release in December about the role China could have in de Tomaso’s affairs. Rossignolo’s situation became even more fragile when court issued an ultimatum that would end the 14th this month. They were unable to pay the Grugliasco factory rent. Rossignolo’s dream of bringing de Tomaso back to life has been on the verge of shattering for some time.
‘Cavaliere’ Gianmario Rossignolo in better times with former Italian president Cossiga and Gianni Agnelli
Some unknown Indian investors were also mentioned last year, but at the last moment they cancelled the deal. Gianmario Rossignolo, former CEO of Telecom Italia, Fiat/Lancia and SKF, forecasted three new models with the Deauville being their first saloon made out of an aluminium bodywork. Meanwhile unions and regional politicians are concerned about the fate of the almost 1,000 employees in Grugliasco. According to regional Fiom representative in Piedmont Federico Bellono, it was clear a new consortium coming up with a financial solution was inevitable.
Despite their industrial plans the only and big weakness of de Tomaso is the financial part, the necessary funds to start up a production have not been invested. Relaunching de Tomaso’s industrial plans are of vital importance regardless of who the owner is, Bellono added. Until new developments are published shortly, the future of the company and its workers remain uncertain.