Property Abroad
Blog
Gkn shutdown and dangerous ties to be explained to Meloni's government

Gkn shutdown and dangerous ties to be explained to Meloni's government

(resumed by the company on October 18) in the flooded area.

A few days ago, an IrpiMedia investigation was published, in conjunction with Panorama. It should have generated a lot more buzz. We presented it at a press conference in the Chamber of Deputies, together with the Alliance of the Greens and the Left. This investigation was about the Gkn story. What did it prove? That the fall in production and the market trend had nothing to do with the closure of the Campi Bisenzio plant. The international corporation and the British speculation fund Melrose had already sealed its fate in 2020. It was clear, even a few years ago when Melrose Industries Plc bought Gkn, that they were not so much interested in industrial productivity as in maximizing profits for their shareholders: such a 'fragmentation and divestment strategy'''was used here as well. They wanted to split the group, sell the plants and distribute dividends.

But everyone remembers what happened in the summer of 2021: suddenly 400 workers were out of work after receiving an email as if there had been a sudden collapse, as if a plant closure overnight was inevitable. "The decision hurts. We realized that under the current market situation, the business cannot be made sustainable," the CEO said months later.

In 2020, however, while the CEO was reassuring unions about the future prospects for production and employment, something strange was happening: the group - as the investigation says - brought in a human resources specialist for the corporate crisis phase, Alex''Accetti, and informed him that he would not be needed in Florence in 2021, offering him a confidentiality agreement. Why would he not be needed? Because the existence of the Florence plant was already in jeopardy in the first quarter of 2021. Two secret drafts, Forest and Sky, concerned staff reductions at various Gkn plants around the world, the other (from February 2020) involved closing the Campi Bisenzio plant entirely. Working drafts, internal documents, PowerPoint presentations attest to this.

In the meantime, prototype components for Stellantis (then Fca) - Gkn's main customer - were being tested at other plants in Europe. In internal Gkn documents, a plan was devised to divert journalists' attention and explicitly state that the tests were not''are linked to the intention to leave Campi Bisenzio. On this occasion, the confidential Gkn plan says: "Gkn and Fca should be well coordinated (at the highest level)". This means one thing: Stellantis knew about it. After the merger of Fca and Psa into Stellantis, it was decided to stop the development of production platforms in Italy, and the only possible outcome of this strategy was that nothing else would be produced in Italy. This is called deporting production.

Recommended real estate
Buy in Italy for 563966£

Sale flat in Rome 732 574,00 $

3 Bedrooms

2 Bathrooms

171 м²

Buy in Italy for 1550000€

Sale villa in Kyavari 1 677 835,00 $

5 Bedrooms

6 Bathrooms

480 м²

Buy in Italy for 598422£

Sale office in Milan 777 331,00 $

4 Bedrooms

2 Bathrooms

220 м²

Buy in Italy for 937018£

Sale flat in Naples 1 217 157,00 $

3 Bedrooms

3 Bathrooms

249 м²

Buy in Italy for 171701£

Sale flat in Milan 223 034,00 $

1 Bedroom

1 Bathroom

62 м²

Buy in Italy for 253426£

Sale flat in Naples 329 192,00 $

4 Bedrooms

2 Bathrooms

170 м²

And Gkn was involved in that process. And I think they did it in a totally anti-union way.

In court, following the unions' 2021 dispute against Melrose, management said it had "never hidden anything" from workers. However, for at least a year they had been hiding''s intention to leave them unemployed. I would like to ask the Meloni government: will this be our 'Made in Italy' model? Unprincipled and non-transparent owners of the automotive sector, predators incapable of responsibility? Pirate manufacturers who treat the entire supply chain and our country as an anchor, and their partners as useful idiots to whom they can tell tales? Companies, fearing the power of labor unions, cheating workers and throwing hundreds of families into the street overnight? A Sovereign government, a government of patriots, defending all this?

Now we face the same tragic threat again as we did in July 2021. In October, Undersecretary Fausta Bergamotto twice denied Gkn's reindustrialization plan, saying that''doesn't know about it. In the absence of help and support, the workers have drawn up a development plan that can be seen and documented in institutional meetings, but the government, which should be thanking them for working for it, has subjected them to scrutiny. And without public intervention and public industrial policy, it will be clear that concreting and real estate in the area are preferred for this project.

Bergamotto called for the plant to be evicted and for "tranquility" and "legality" to return. What will she do when the plant is empty? Will she throw a party or enjoy the quiet? Because it is only the intent of Gkn and Melrose, backed by Stellantis, that has not manifested itself in this case. The changes in the company's structure indicate a purely real estate operation:''Pvar, which owns all the shares of the former Gkn, is 50% controlled by Toscana Industry srl, which in turn is 100% controlled by Monte dei Paschi di Siena, a trust company owned 64% by the State. The subject matter of Toscana Industry and Pvar's activities is "purchase, sale, exchange, construction, renovation, real estate management". Francesco Borgomeo, the current owner of Gkn, also owns another company, Saxa Gres, which is in a difficult financial situation, whose shareholders include Gaetano Caputi, Chief of the Cabinet of President Meloni. Sooner or later the government will have to answer for these "dangerous connections", for refusing to organize the crisis meeting and for its promotion of the post-industrial winter that is already on its doorstep.

Comment