Bertone Reveals First Rescue Plans

Bertone Group’s fate has been given a direction last January 23, 2008, when Lilli Bertone and Domenico Reviglio, owner of the Gruppo Prototipo and turnaround specialist, finally signed a contract that will put Stile Bertone S.p.A., Bertone S.p.A. and Carrozzeria Bertone S.p.A under Reviglio’s control. According to the statement Bertone has released yesterday, 35% of the shares will remain in Ms. Bertone’s hands, while the other 65% will be assigned to Reviglio.
“I am fully satisfied with this agreement,” said Lilli Bertone: “It represents a fundamental starting point on the basis of which our work to kick start all our activities, from styling to production, can begin. I have fought long and hard for this result, and I have had to steer my way round a veritable obstacle course in the form of people pursuing interests that have nothing to do with the company’s industrial mission, completely ignoring the interests of the workforce, stirring up controversy for instrumental purposes, and exploiting the incomprehensible willingness of certain newspapers to publish falsehoods”, said Bertone’s matriarch.
“Fought” is not a mere way she found to express herself. Barbara Bertone, Lilli’s daughter, was the general director of the company and has been suspended from her functions little before the companies were sold. According to Automotive News, Barbara and her sister, Marie Jeanne, claim their mother did not own all the shares she sold to Reviglio. They also intend to take legal action against the sale.
Among the recovery measures Reviglio intends to take is the production of electric vehicles, just like Pininfarina has announced. He expects the Bertone Group to generate € 39.1 million in revenue in 2008 and € 62.2 million in 2009, according to Automotive News.


Press Release
BERTONE - REVIGLIO: AGREEMENT SIGNED
This morning Lilli Bertone and Domenico Reviglio put their signatures to a contract to purchase shares in Stile Bertone S.p.A., Bertone S.p.A. and Carrozzeria Bertone S.p.A with the aim of injecting new industrial life into the Bertone Group. The agreement executes the terms of the purchase option presented by Dott. Reviglio and confirms that a new company will be set up in which 35% of the shares are assigned to Ms Lilli Bertone and 65% to Dott Domenico Reviglio.
“I am fully satisfied with this agreement,” said Lilli Bertone: “It represents a fundamental starting point on the basis of which our work to kick start all our activities, from styling to production, can begin. I have fought long and hard for this result, and I have had to steer my way round a veritable obstacle course in the form of people pursuing interests that have nothing to do with the company’s industrial mission, completely ignoring the interests of the workforce, stirring up controversy for instrumental purposes, and exploiting the incomprehensible willingness of certain newspapers to publish falsehoods. Now is the time to turn over a new leaf. The new Bertone begins today. For me this is a personal commitment and I intend to accompany this prestigious Italian brand towards its one hundredth anniversary, restoring it to its rightful place among the great brands of the world.”



Related entries:

Bertone Sold to Gruppo Prototipo
Bertone SuagnàConcept Premiere
Bertone Barchetta Concept Unveiled
Bertone Concept to be Unveiled in Geneva




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