New company for the Ceramiche Gambarelli and Ceramiche di Siena brands

Fears over short-time work programme allayed for staff of Ceramiche Gambarelli and Ceramiche di Siena. The Pozzi family, the Group’s majority shareholder, has announced that the programme is temporary and forms part of a technical package aimed at restructuring debt with the support of the banks. The package involves placing the old companies in liquidation and forming a new company.

The new company, which will be called Gruppo Ceramiche Gambarelli and in which 70% of the shares will be held by the Pozzi family and 30% by holding companies connected with Monte dei Paschi di Siena, will take over 100% of the current staff of the two companies, through an initial company lease, without any changes to their current pay, length of service and qualifications. An irrevocable commitment has been made to purchase the strategic brands, patents, inventory and real estate, while non-strategic assets will be sold to cover the debt of the old companies.