[DeTomaso] DeTomaso article AutoWeek 11/24/10

[Tony DiGiovanna]

...De Tomaso also has a checkered past...

Must be referring to my track events.

Tony "I haven't lost yet" DiGiovanna

P.S.  Happy Thanksgiving Everybody!

-----Original Message-----
From: detomaso-bounces at realbig.com [mailto:detomaso-bounces at realbig.com] On
Behalf Of P6746 at aol.com
Sent: Wednesday, November 24, 2010 12:11 PM
To: detomaso at realbig.com
Subject: [DeTomaso] DeTomaso article AutoWeek 11/24/10

 
De Tomaso has big plans but a sad history
By LUCA  CIFERRI on 11/24/2010  
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Gianmario Rossignolo aims to revive the De Tomaso brand in  mid-2011. 
If De Tomaso Automobili takes over Fiat's car plant in  Sicily, the latest 
incarnation of the luxury brand will have control of three  factories in 
Italy. That's a lot of capacity for a company that has yet to  produce its 
first car. 
The Italian government backs De Tomaso's plan for the Termini  Imerese 
plant, which Fiat will close next year leaving 1,400 workers jobless in  an
area 
plagued by high unemployment. 
To avoid layoffs at the plant, the Sicilian Regional  government will 
provide 350 million euros (about $473 million) in subsidies to  the new
owner. 
The question is whether flamboyant De Tomaso boss Gianmario  Rossignolo can 
deliver. Rossignolo, a 79-year-old former executive at Fiat and  Swedish 
ball-bearings maker SKF, says he needs the Sicilian plant to add a small  
crossover and a premium city car to the De Tomaso lineup. 
De Tomaso already has control of a former Delphi plant in  Livorno and is 
renting a former Pininfarina plant in Grugliasco, near Turin.  Salaries for 
the plants' combined 1,100 workers currently are paid by public  funds. De 
Tomaso plans to invest 120 million euros ($163.2 million) to build  3,000 
units a year each of large crossover, a sedan and a coupe at the  factories.

De Tomaso says its first model will be a crossover, which  will be unveiled 
in March at the Geneva auto show and go into production by July  2011. 
Rossignolo's business plan looks ambitious and his track  record is poor. 
The De Tomaso project is his second attempt to revive a defunct  Italian 
brand. About 15 years ago, he tried to restart Isotta Fraschini. An
Audi-based 
Isotta Fraschini T8 was unveiled at the 1996 Geneva show, but it  never 
entered production. 
De Tomaso also has a checkered past. Founded by Argentine  racecar driver 
Alejandro De Tomaso in 1959 in Modena, De Tomaso Modena S.p.A. is  best
known 
for the 1963 Vallelunga, 1966 Mangusta and 1970 Pantera. The  company's 
financial struggles started in the late 1970s. Following several  failed 
relaunches, De Tomaso Modena filed for bankruptcy June 2004, a year after
its 
founder died.  
Rossignolo bought the brand from a bankruptcy sale. Let's  hope Rossignolo 
and De Tomaso's chance at a new beginning doesn't result in  another sad 
ending. 

Read more: 
_http://www.autoweek.com/article/20101124/FREE/101129949#ixzz16DkBkZMV_ 
(http://www.autoweek.com/article/20101124/FREE/101129949#ixzz16DkBkZMV) 
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