26 Feb 2009
ERJ staff report (DS)
Milan -- CF Gomma has filed a restructuring plan which is likely to involve redundancies. Federico Cancarini, Chairman of CF Gomma said, "We are adjusting our business plan in order to review the size of the group in relation with the forecast of the sales of 2009."
Around 90 percent of CF Gomma's sales are into the auto sector, and sales in 2009 will be "far below the expectations we had in the past;" according to Cancarini. He continued, "In this situation some redundancies in different plants will be necessary to adjust to the demand and ensure the continuity of the company." He did not give further details.
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AUTO: CF GOMMA DI VENARIA VERSO LA CHIUSURA Story from Asca.it (Italian language)
CF VENARIA GUM TO THE CLOSING Above story auto translated into English source
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