Pininfarina sheds contract manufacturing
January 1, 2009 by George Skentzos
Pininfarina, Italy’s only remaining contract manufacturer in operation, has announced it will no longer pursue contract manufacturing when current productions end, instead concentrating exclusively on building electric cars.
The announcement follows the approval of a revised industrial plan by creditor banks which will wipe off 180 million euros of the 597.7 million euro debt of the Pininfarina group.
In exchange, the Pininfarina family will give 50.6 percent of their shares to creditor banks, thereby losing control of the company founded in 1930 by Battista Pininfarina, grandfather of the current chairman Paolo Pininfarina and Vice-chairman Lorenza Pininfarina.
The company said in a statement that it would not look for new contract manufacturing orders after the current contracts expire at the end of 2011.
Pininfarina is currently responsible for the manufacturing of Alfa Romeo’s Brera coupe and Spider and the Ford Focus coupe-cabriolet in volumes about a quarter of what was originally planned.
By 2010, the first pilot production of the B0 (B Zero) will begin, an electric car developed in joint venture with French industrial group Bollore, followed by full production in 2011.
The company will reduce its debts by a further 70 million euro by transferring Pininfarina trademarks to a newly created, creditor bank owned company.
The Pininfarina family will retain a stake of about 4.5 percent of the publicly listed Pininfarina S.p.A. holding company.
Pininfarina has said that despite becoming the controlling shareholder, creditor banks would not ask for board seats or management changes.
Print it: 
So Pininfarina is effectively broke?
How very sad.
Meh… they had a good run.
Should see some stylish electric cars then.
Is Bertone still in business?
Realcars – as far as I am aware Bertone doesn’t exist anymore; they went pear shaped early last year.
Is there no justice!
I have often wondered how invincible Toyota/Lexus would be if Pininfarina and/or Bertone has some imput on their designs.
I believe some of these Italian design houses had some input in some of the classic Mazda models of the sixties and seventies.
Actually, I have to say that I don’t think all their cars are good looking. The Focus CC isn’t too bad from the front, but it’s horrible from the back and that’s the bit Pininfarina designed. Not so with the Alfa Romeo Spider, probably the worst to drive but the best looking roadster on the market, not to mention one o the best looking cars in the world. They have designed many beautiful cars, but the ones that aren’t beautiful just aren’t anything, not even special, but I certainly don’t want to see them go.
Pininfarina also helped Holden with the design of the
[one off] CV8 Monaro Convertible
Alex – since you are the Alfa Romeo guru on this site.. didn’t Pinninfarina help design the awesome Alfa Romeo “Schigera” super car concept? back in the early 90s
Wheelnut, I wasn’t sure but I looked it up and it says on Wikipedia that it was designed by Italdesign, whether they have any affiliation with Pininfarina I don’t know but I doubt it.
Now there’s a car that should have gone into production, even if it limited. That was a great looking car.
Alex, I do agree with you comments that NOT all of the cars designed (or designed with their involvement) are considered as “good looking”
To be fair, the Peugeot 406 coupe and all the Ferrari’s designed by them, IMO, are stunning.
Having said that, they are also involved in the design of some relatively unpopular / ordinary models such as the Mitusbishi Colt Cabriolet and the Daewoo Lacetti.
And that’s my point OURS, the Lacetti isn’t even well proportioned and the Colt CC is just horrible. But as you say, the 406 and the Ferraris are stunning. I think it just depends on what sort of look the car is. Maybe they do coupes much better than family cars. Well, obviously, they do.