Iveco sells Magirus, the company that invented the fire revolving ladder

ROME – Iveco is ready to market Magirus, the historic German company which is a division of the group based in Turin. Company that deals with the preparation of vehicles for firefighters, an international leader especially in the construction of fire-fighting escalators. The company has communicated to the unions “its intention to seek an investor who will take over all or part of the firefighting division, which in Italy employs around 180 people at the Brescia site for special vehicles and about 1,000 in Europe”.

Founded by German fire chief Conrad Dietrich Magirus in 1864, the Magirus brand has nearly 150 years of experience in manufacturing vehicles that provide fire rescuedanger and natural disasters. The company that invented the revolving ladderdevice that has been cloned and is present on all major fire trucks.

A reorganization that depends on the need of Iveco, a company owned by Exor which also controls Republic through Gedi, to focus on the core business. Fire fighting vehicles are not included. And above all, the search for an investor, which has just started, will also serve to relaunch Magirus’ business.

The process has just begun and will involve first of all a corporate simplification, with communication to the Presidency of the Council of Ministers given the strategic nature of the sector, and then the search for a partner who rewards the majority stake or takes over the entire division. “A choice that derives from the fact that in the last ten years the division has generated unsatisfactory economic results, despite the quality of the product”, underline Fim, Fiom, Uilm, Fismic, Uglm and Quadri Capi Fiat. “As a union we have expressed our concern for the future of the workers involved and consequently the need to be updated on any further news and possible buyers. Clearly it will be necessary to define a guarantee agreement for activities and employment”. The next stage will be in September, when a new meeting will be scheduled, also because Iveco hasn’t given any targets with respect to the timing of the sale.