Pininfarina to close manufacturing operationsThu, 13 Oct 2011
Italian design and manufacturing house Pininfarina S.p.A announced it will be cutting back its operations, with the closure of its manufacturing facilities. The decision will see the brand now focusing solely on design and engineering aspects for the automotive industry.
The move follows the recent completion of a partnership with Volvo, which saw the production of the C70 convertible at Pininfarina's Sverige AB plant in Uddevalla. Volvo and Pininfarina had an established partnership at the plant since Volvo began building the current generation C70s in 2003.
"Unfortunately we are having to stop our production activities, given the way the car market is. So we are focusing on design and engineering," a Pininfarina spokesman said.
As a result of Pininfarina's decision, 127 workers, which were estimated to cost the firm of €2.9 million, will be laid-off.
The ongoing troubling times for the design house have led to French billionaire Vincent Bollore expressing interest in acquiring a stake in the family-owned business.
By John O'Brien