Marangoni spins off new tire machinery business

Rovereto, Italy – Marangoni Group has spun off its Marangoni Meccanica business, which produces new tire manufacturing equipment, the company announced 14 June.

The business is now owned, as a “standalone entity", by a consortium of companies consisting of family business Caran, local investing group La Finanziaria Trentina, and financial group Alto Adige Alpenring .

The business makes equipment used in the production of tire components such as tread base, tread cap, wings, sidewalls, abrasion gum strip and fillers, along with its "Fast" line of customized tire assembly systems.

Caran is a company owned by the family of Giorgio Marangoni, the president of Marangoni Meccanica.

La Finanziaria is a holding company for a group of 74 local investors and entrepreneurs.

Through the spin-off, Marangoni said the new entity could take advantage of “a substantially increased share capital, thanks to the new shareholders.”

The company will release more information on the transaction 'in the coming weeks'.

It's unclear at this time whether the move is related to Marangoni's unfolding global partnership with Brazil's Borrachas Vipal SA.

The two companies announced their intention in November 2018 to form a partnership, but have disclosed few details since, saying only that it should increase their respective synergies and productivity.

ERJ sister publication Tire Business contributed to this report