Alarm bells have begun to ring at the Marzocchi factory in Bolonga, Italy with news filtering out that the company is set to close
Recent talks with FIOM-CGIl ? the Italian workers union who represent those employed in businesses engineering ? have indicated that Marzocchi ? owned by US multinational Tenneco ? plan to cease trading at the Bologna plant*.
A date when this is due to happen has not yet been revealed, but it does come as a major source of worry for the 100-plus workforce.
In July 2013, the company had 40 redundancies while employees saw an average reduction of 35% in hours.
With ongoing market difficulties being one of the major factors involving the uncertainty of the company?s future, it looks like Marzocchi face some tense times ahead.
In the off road motorcycle industry, Marzocchi are currently OEM?s for Gas Gas and Beta.
Since 2008 all bicycle forks have been manufactured in Taiwan.
Marzocchi ? an Italian suspension manufacture ? was founded in 1949 by brothers Stefano and Guglielmo Marzocchi but in 2008 the company was acquired by American automotive parts Tenneco.
Trading on the New York Stock Exchange, Tenneco recorded a full-year revenue of $8.4 billion in 2014.
Tenneco own 11 different brands and employ 26,000.
*Source -
www.ilrestodelcarlino.it