TURIN, Italy — Famed Italian coachbuilder Bertone, struggling to ward off bankruptcy, is on the verge of being sold to the founder of Gruppo Prototipo.
According to Italiaspeed.com and other European media reports, Chairwoman Lili Bertone, widow of Nuccio Bertone, announced Tuesday evening that she had signed an agreement to sell the company to Domenico Reviglio, whose Gruppo Prototipo operates the Nardo high-speed track and helps manage Fiat's test activities.
Bertone was founded in 1912 by Giovanni Bertone. Over the years, the coachbuilder has designed many distinctive vehicles for virtually all the major Italian brands, including Ferrari and Lamborghini, as well as such clients as Volvo and BMW. Its order book, however, has been painfully thin in recent years and the Italian government has been compelled to provide job guarantees to the workers.
Bertone filed for the equivalent of Chapter 11 bankruptcy protection in November, after losing more than $55 million over the past three years.
What this means to you: Reviglio may have headed off a last-minute bid by a prospective Chinese buyer. Time will tell if he is successful in reviving the cash-strapped design and engineering house. — Paul Lienert, Correspondent
According to Italiaspeed.com and other European media reports, Chairwoman Lili Bertone, widow of Nuccio Bertone, announced Tuesday evening that she had signed an agreement to sell the company to Domenico Reviglio, whose Gruppo Prototipo operates the Nardo high-speed track and helps manage Fiat's test activities.
Bertone was founded in 1912 by Giovanni Bertone. Over the years, the coachbuilder has designed many distinctive vehicles for virtually all the major Italian brands, including Ferrari and Lamborghini, as well as such clients as Volvo and BMW. Its order book, however, has been painfully thin in recent years and the Italian government has been compelled to provide job guarantees to the workers.
Bertone filed for the equivalent of Chapter 11 bankruptcy protection in November, after losing more than $55 million over the past three years.
What this means to you: Reviglio may have headed off a last-minute bid by a prospective Chinese buyer. Time will tell if he is successful in reviving the cash-strapped design and engineering house. — Paul Lienert, Correspondent
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