Hoovey689

iTrader: (16)

Pininfarina exits carmaking business, plans to concentrate on design

Reuters reports that Pininfarina will lay off 127 workers as the company shuts down its manufacturing business to focus more heavily on design and engineering. The Italian company points to the declining automotive market as the reason behind the move. The layoffs are expected to cost the company around €2.9 million, or $3.96 million at current conversion rates.

Pininfarina recently ended a joint venture with Volvo to produce the C70 in Uddevalla, leaving us to wonder where the model would be manufactured in the future. Meanwhile, Pininfarina is busily courting suitors to purchase a stake in the design firm as part of a debt restructuring agreement with the company's creditors.

French billionaire Vincent Ballore is one investor who has expressed an interest in purchasing part of the family-owned company. In the future, Pininfarina is expected to focus its efforts on contracted design and engineering work.

http://www.autoblog.com/2011/10/12/p...entrate-on-de/

Hoovey689

iTrader: (16)

Such a storied company who's designed for companies such as Ferrari, Maserati, Rolls-Royce, Cadillac, Jaguar, Volvo, Alfa Romeo, and Lancia just to name a few

IS350jet

Pininfarina; The greatest automotive desing company this earth has ever seen.

Hoovey689

iTrader: (16)

I never noticed the 458 had the badging