Filed under: Euro, Government/Legal, Plants/Manufacturing, Earnings/Financials
Potential buyers line up for Bertone
After going into bankruptcy protection, Bertone may very well be in the worst shape it's ever been in its 96-year history. But that doesn't mean there aren't enough companies out there interested in acquiring the famous carrozzeria's assets, including its venerated name.
Although the process undertaken by the court-appointed commissioners remains secretive, reports suggest that several companies have contacted the administrators putting forth bids on Bertone. Among them are Chinese automaker FAW, Indian carmaker Mahindra, Italian contract manufacturer DR Motor, German engineering firm PCL Group and, perhaps most intriguingly, Giorgetto Giugiaro's rival atelier Italdesign. The reported list of the bidders may very well change as the courts seek a suitable buyer for Bertone, but the prospects are looking good for the famous design studio and its anxious 1,300-strong workforce.
[Source: Automotive News Europe – sub. req'd]
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Reader Comments (Page 1 of 1)
SPG 7:52PM (4/02/2008)
Perhaps if one of the new China market car companies bought this brand we'd see some new and cutting edge designs instead of rehashed designs from other countries.
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John 8:17PM (4/02/2008)
Bertone has done design work for Chery Automotive in China.
Designs are nice but the engineering leaves something to be desired.
mk 8:05PM (4/02/2008)
Rather not see a european design house sold to the communist chinese state. Even chinese corporations are still the state, which is the point of communism.
Maybe the germans can get a dose of italian style, or ItalDesign can incorporate it and get a bit better market position to continue creating beautiful cars with the skill of both companies in one. Maybe give the flagging Pininfarina, and little Zagato a bit more of a run for their design cred.
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aron 10:30PM (4/02/2008)
How long have you been under a rock for? Most Chinese industries have been privatized, where do you think all those record breaking IPOs come from?
mk 12:26AM (4/03/2008)
Look up the word "communism". It means state ownership of the means of production. No private ownership, otherwise it wouldn't be communist, it would be capitalist. China is still communist, despite appearances of westernization.
Even with the appearance of capitalism, everything is tied back to the state. Where do you think all the money for those record IPOs went?
Paul 9:43AM (4/03/2008)
It went to the state because you BOUGHT their company. An IPO is the SELLING of a company in tiny little pieces (called shares!).
China is about as socialistic as the United States... really... it is. They are far less than we give them credit for (though still extremely oppressive in other ways) and we are far MORE than we give ourselves credit for (and getting more and more oppressive in other ways... interesting).
mr.ed 8:58AM (4/03/2008)
Bertone sale comes with 627k tons of future rust. Ask the owner of any of their products.
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Throwback 9:15AM (4/03/2008)
I'm surprised Fiat's name is not mentioned. They seem to buy every Italian auto related company that is available.
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