Dainese moves production to Africa
Added on Wednesday, January 20th, 2010 by Carole Nash Editor | No Comments
Dainese moves production to Africa
Italian manufacturer Dainese has announced that it will be moving manufacturing to North Africa, resulting in the loss of 200 jobs.
The manufacturer, which saw a 25% slump in sales last year, is moving production from its current plant near Vicenza across the Mediterranean to Tunisia, where it already has two plants.
The existing plant will remain as the company’s base for design and development and leathers for the company’s professional riders, which include Valentino Rossi, Jorge Lorenzo and Max Biaggi will still be manufactured at the Italian plant.
Accounts for the company, which also owns the AGV helmet brand, showed that despite reporting an operating profit of around €700,000 (approx £609,000) from a turnover of €105m (notably lower than a target of €150m), is saddled with around €33m of debts.
The company has negotiated a retraining package with employment unions, reported to be worth around €2,000 per redundancy.
Dainese leathers have been produced in Vicenza since being founded by current President Lino Dainese in 1972.
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