I.DE.A. Institute wants to acquire contracts dropped by Italdesign

Article by Christian A., on December 3, 2010

I.DE.A. Institute S.p.A. is on the lookout to enter new contracts with carmakers that don’t anymore do business with competitor Italdesign Giugiaro S.p.A. Since Volkswagen AG took over Italdesign last May, it has mainly been focused on projects for VW's 10 brands.

I.DE.A. Institute, Italy's third-largest automotive design and engineering firm, is eyeing the estimated 70 million euros ($95 million) worth of annual contracts with other carmakers.

In a recent interview at I.DE.A.’s headquarters in Turin, Chairman Steffen Goerig said that it has received calls from several companies -- European and Chinese automakers that previously worked with Italdesign.

The 41-year-old Goerig is a Stuttgart native who got a degree in mechanical engineering and earned an MBA at New York University. He worked at the London office of US merger specialist Bankers Trust for three years. He then started his own business.

In 1997, he bought a bankrupt packaging company that he turned around and sold at a profit. In 2008, Goerig founded Swiss firm Quantum Kapital AG, which specializes in corporate turnarounds.

He added that the company looks for “debt-free, distressed companies” that have a revenue of at least 12 million euros annually. [via autonews - sub. required]

Topics: italdesign

If you liked the article, share on:

Comments

Recommended

Not a few agree that the Volkswagen Polo news a styling overhaul. While this supermini still looks good as it is now, the latest facelift was around three years. With...
by - April 27, 2017
They say that when the going gets tough, the tough get going. That’s what Harvey Payne did with his Chevrolet Bolt. Ever since he bought it, it had been experiencing...
by - April 27, 2017
What defines a coupe? Well, according to the dictionary, “it is a car with a fixed roof and two doors”. Ok, now that it is clear, when does one not...
by - April 27, 2017
Back in 2013 was when the first hot hatch was released, that was the original A45 by Mercedes-AMG, carrying a hand-built 2.0 liter M133 turbo mill. It was then then...
by - April 27, 2017
BMW dealers have a problem, a good problem. The demand for the 2017 BMW 5 Series is very high, they cannot attend to all the customers. But actually, supplies are...
by - April 27, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries