Italian Car Parts

[Warp <WarpOMatic@domain.elided>]

           Here's a very recent news piece from the automotive press on an
 Italian auto parts maker building in the US. I'm trying to close my eyes
 and see a sign in the tea leaves about Alfa's return. ;-)
 Anyone see anything here?
             Mark Manley
             '84 GTV6     	

MILAN, Nov 6 (Reuters) - Italian car parts maker Sogefi <SGFI.MI> said on Wednesday it 
had  signed a deal to build a new factory in the United States, adding it could grab five 
percent  of the U.S. market on the strength of its current order book.

In a statement, Sogefi said it would invest $13 million over two years in the Charleston,  
West Virginia plant, which should start pumping out shock absorbers and stabilising bars  
from early 2004.

Sogefi said the rest of the $27 million cost would be paid by a fund belonging to the 
Italian  Industry Ministry and by the West Virginia Development Office.

"Chief Executive Emanuele Bosio...said Sogefi will be able to conquer about five percent 
of  the U.S. market, thanks to the big orders we already have, our technology and 
quality," said  Sogefi, part of the Cir <CIRX.MI> group.

Sogefi said it expected to post revenues of 900 million euros ($900 million) this year. In  
2001, turnover totalled 678.7 million euros.

Industry News Archive
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