CF Gomma regains control of Polish factories

Passirano, Italy - After five months of wrangling with the courts, and new owner, Societe' des Polymeres Barre Thomas (SPBT), the Italian rubber product maker, CF Gomma SpA has won back control of more than 70% of its Polish activities.

CF Gomma, based in Passirano Italy, managed to recover the majority of the Polish activities related to its core business, five months after the sale of its French assets, as decided by the French court of Nantes.

That decision also caused the transfer of the property of CF Gomma Poland Sp.zoo. to Silverpoint, an Anglo-American fund which entered a negotiation with CF Gomma that resulted in this agreement.

CF Gomma Polska makes antivibration parts, torsional dampers, brake hoses and rubber and plastic precision parts, mainly for customers located in Poland and Germany.

CF Gomma presented this week the new industrial plan to its stakeholders, after the conclusion of the transfer of the above mentioned activities to the new company “CF Gomma Polska Sp.zo.o.”

After this acquisition CF Gomma will reach consolidated sales of €190 million in 2007 with 1800 employees of which the Polish operations contribute €35 million of sales and 800 employees.