Re: Italian Car Parts(long)

[Howard gentry <zymmer4@domain.elided>]

--- Warp <WarpOMatic@domain.elided> wrote:
>            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
> --
Listers,
     This is interesting in that there is already a
parts manufacturing plant in South Charleston,Wv. It
is a sheet metal stamping plant ,operated by
Mayflower. This plant stamps floor-pans for Mercedes
and BMW, roofs for GMC, van doors for Chevy, and
various parts for heavy trucks,mostly GM in
origin..Toyota and Ford are about to become customers
of this plant..
     The fact that Alfa is proposing a move to this
Kanawha River Valley is significent.  All of the South
Charleston stamping plant clients DO sell in the USA.
It follows that Alfa may want to orginise a parts base
first, then do the manufacturing. Just speculating
here.
     Let us try to keep abreast of what is happening
here.
Yours, Howard
worker at the South Charleston stamping plant
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