“Progetto Italia” launched: 40 million euros allocated to expand production capacity of Carraro plants in Italy

Agreement signed with all unions for "continuous cycle" machining

Campodarsego (Padoua), 11 October 2013 – Today, in the presence of Enrico Carraro, Group Chairman, and all the unions (FIOM, FIM, UILM) represented in the company, a new and important agreement, aimed at boosting the competitiveness of the Group's Italian factories, was signed.

More specifically, it was agreed that in Carraro Drive Tech production plants in Italy (Gorizia, Maniago, Campodarsego, Poggiofiorito) the "continuous cycle" will be introduced in machining areas, i.e. those in which systems must work day and night, weekends included, in order for production as a whole to be competitive.

Based on the agreement reached, also as a result of the positive outcome of the referendum among workers, the Group confirmed its intention to invest over 40 million euros in Italy in the coming years to purchase new machinery and develop industrial activities.

“Today, within our solid global manufacturing base, always close to our customers and above all to the markets, we can confirm that also Italy can be competitive and have a crucial role in ensuring market expectations are met. – said Enrico Carraro, Group ChairmanThe only way to make our Italian plants competitive is to fully capitalise on the investments made and thus saturate machine tool production capacity”.

“We are pleased that also the unions, all together, have understood the importance of making a step forward on the road to flexibility, understanding its strategic scope. – concluded Enrico CarraroIt is precisely thanks to this agreement, in fact, that we are able to launch the "Progetto Italia", i.e. a development path, supported by investments of over 40 million euros, dedicated to Italian mechanical plants and aimed at improving current technologies to further increase efficiency at these sites”.

The planned investments are part of the broader context of the 2013-2016 Business Plan, which envisages actions aimed at adequately supporting expected growth in the main markets and the launch of new products. In addition to Italy, activities are planned for the expansion of production capacity in Carraro's Asian manufacturing plants in China and India.

In this context, thanks to the new component in-sourcing activities, as well as to expected industrial efficiency improvements in numerous Group plants, it will also be possible to significantly improve profitability with a corresponding increase in cash generation.

Go to Press release 11.10.2013

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