Pininfarina struggling, seeks new partners
The company has lost almost twice as much money so far this year as they did during the same period last year: 39.1 million euros compared to "just" 16.3 million euros for the same period in 2006. After letting Ken Okuyama get away from them and losing Lorenzo Ramaciotti to FIAT, they need to make some important decisions soon if they want to keep the house of Farina afloat. To help right the ship they've already started working with automotive consultant Roland Berger and with financial advisers, Rothschild.
The initial plan is to add manufacturing partners to help reduce Pininfarina's financial risks in this unpredictable contract manufacturing business. The brand name is golden, but it hasn't managed to attract enough projects recently. Hopefully these new advisers will be able to save this great Italian institution.
[Source: Automotive News, sub. req.]
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