Marzorati sells and donates 5 million to former employees – Corriere.it

A gross €2,500 “gift” for each of its 1,600 former employees, 1,150 of whom in the Aosta plant. This is how the Swiss entrepreneur Giuseppe Marzorati, president of Cogne acciai speciali since 1994 (a world leading iron and steel company in the production of long stainless steels and nickel alloys), “celebrated” the sale of 70% of the company shares to the Taiwanese group Walsin Lihwa Corporation . The day after the transfer of ownership was signed, a bank transfer of 2,500 euros (before taxes) arrived surprisingly on the current account of each worker – between Italy, the United States and China – and a 200 euro fuel bonus was also provided. For a total outlay of five million euros (three million for workers in Italy), directly from the former owner’s wallet.

The letter to the employees

From 1994 to today – Marzorati wrote in a letter to his employees – I have spent some fantastic years with you and those who preceded you, starting from a situation of real corporate hardship and arriving instead today to represent an important, appreciated, admired reality , sustainable and highly regarded internationally. The work of development and constant growth has allowed us to achieve a great goal: to make the Cogne Group the European leader in the sector. Together we have actively supported the radical change that our company has developed over the years, becoming the spokesperson for the Lean culture and, above all, giving priority to sustainability in its various meanings.

The production remains in the Aosta Valley

Giuseppe Marzorati will remain honorary president of the Cas while the new patron is Yu-Lon Chiao. Massimiliano Burelli, former president and CEO of Thyssenkrupp Italia (2017-2022), was appointed CEO of the company. Board members also change. To purchase 70% of the shares, Walsin paid out 210 million euros. The operation, as announced by the group, creates the world’s largest producer of special long stainless products. The new ownership immediately met with the unions. Production will remain here, they also intend to make investments in the Aosta site, we haven’t been told what type. What is important for us are the reassurances on production and personnel, which will not be affected in the slightest at the moment, commented Fabrizio Graziola, Fiom CGIL Valle d’Aosta secretary.