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

Article by Christian Andrei, 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:


Login or Create new account to add a comment!


We’re all excited as the year comes to an end especially as there are several things we’ve highly anticipated. Like always, the car industry has something new to offer; that’s...
by - October 28, 2016
Fuel economy is now an everyday term we hear and read in the automotive world. Just recently, some car manufacturers got into serious trouble for claiming false statements with regard...
by - October 28, 2016
More than three decades ago, the DeLorean DMC-12 was produced by the DeLorean Motor Company. However, production was stopped due to issues within the company. The car itself was decent...
by - October 27, 2016
Tesla is making sure that all models under production will receive the necessary advanced hardware that will allow them to be autonomously driven. The fitment of these advanced hardware to...
by - October 27, 2016
Wondering how fast the 2017 Chevrolet Camaro ZL1 in actual driving? To provide customers a good idea on how fast the 2017 Camaro ZL1 could really get, Chevrolet recently had...
by - October 27, 2016