Pininfarina preparing new industrial and financial plan

Pininfarina’s board of directors yesterday approved guidelines for the plan, which aims to turn around Italy’s largest contract manufacturer and design house. The company said the plan should be completed by February.

The guidelines include searching for new partners in its contract manufacturing activities. This would to reduce Pininfarina’s and its shareholders’ financial risks in the volatile contract manufacturing business.

The new partnerships would be similar to the Pininfarina Sverige AB joint venture that the company has with Volvo to build the Volvo C70 coupe-cabriolet.

"Pininfarina’s situation continues to worsen. The guidelines of the industrial and financial plan announced today are too vague to evaluate any potential positive effect."

Pininfarina builds the Maserati GranTurismo, Ferrari 599 GTB Fiorano, Alfa Romeo Brera coupe and Spider, the Ford Focus coupe-cabriolet and Mitsubishi Colt CZC.