A team of executives, both internal and external, led by Michele Laurierohas prepared a mbo for the Adria company
Adria – A plan to save the Vittoria di Adria Shipyard. The proposal comes from a team of managers and executives already operating within the company, but also externally. A group led by Michele Lauriero, current project management office manager of Cantiere Navale Vittoria, who in a note explains the objective of the project, on the eve of the deadline of 31 July, the date on which the company expects to complete the last orders under management. “And if there is no concrete proposal for a rescue plan, the shipyard will be forced to start the irreversible process of judicial liquidation by depositing its books in court,” explains Lauriero. And he adds: “The proposal would consist of a management buy-out operation, that is, the acquisition of the company by a team of managers who by making their skills, knowledge, credibility and a part of the capital available, would acquire and take over the management of the company. The idea, therefore, would be to make the transition of company operations from the old management to a totally new one seamless which, however, fully knowing the operational dynamics of the construction site and, above all, being equipped with all the necessary technical-managerial skills and knowledge, would allow a resumption of company activity without traumas and discontinuities, preserving the entirety of the jobs”.
The team has recently developed a business plan and has also started the investigation phase of institutional investors who can support the operation. “We would like to access, if possible through a pool of banks or financial institutions, preferably operating in the area, a critical mass of finance in the form of loans to be repaid through the profits of the first years of operation,” continues Lauriero. And he launches an appeal: “That an important industrial reality such as the Vittoria Naval Shipyard iswith its skills and production capabilities, with its one hundred years of history, with its excellent reputation on the market and almost a thousand ships built may fail and close inexorably it is something unimaginable. If it were to be realised, it would not only undermine the local economic system, but would have repercussions on the entire Italian shipbuilding sector”.
( In the photo the delivery ceremony of the P71 patrol boat which took place last March 23)
