ANAGNI, Italy (Sept. 6, 2013) — Marangoni S.p.A. has ceased production of new car and van tires at its plant in Anagni, a move that puts 400 employees out of work.
Marangoni, better known as a retreader and supplier of retreading equipment and materials, went into new tire manufacturing in 1988 when it took over the plant in Anagni from the former Ceat Pneumatici S.p.A.
Marangoni's decision came to light recently when it did not resume production following the plant's annual summer break, according to local news reports.
In a prepared statement, Marangoni said:
"Despite the huge investments of financial and technical resources made in recent years in support of production and employment (45 million since 2005)…the establishment of Anagni was unable to counter the economic dynamics of structural and market—including the increasingly popular competition of cheap tires from non-European countries — and macroeconomic related to the global crisis…."