Borgo Valbelluna, the public procedure ends. Without a buyer, the extraordinary commissioner will proceed with the private negotiation
BORGO VALBELLUNA. And then decisive day for the future of Mel’s Acc. The public auction for the sale of the Zumellese factory ends on 5 October. It will be the extraordinary commissioner Maurizio Castro who will have to check the number of offers binding that have arrived. Together with the offer, buyers interested in acquiring the plant must also submit an industrial plan.
But a twist has already happened. Of the two companies interested in the Mel plant until a few days ago, one has taken a step back. Let’s talk about the Japanese Nidec, which since 4 October withdrew from the race.
To announce it the CEO Valter Taranzano, the same one that a few months ago announced his interest in the Acc plant in Mel.
The departure of the Japanese giant took sector experts by surpriseand, given that the signals that had arrived from the company were of a completely different nature.
The backward step of Nidec brings with it several implications: the fear is that other possible investors may also follow the example of the Japanese giant.
That being the case, I am three possible scenarios for Mel’s factory, whose future is still to be written: it remains a competitor, there are no competitors, others are found through a private negotiation. Meanwhile, the more than 300 workers, with their families, are waiting to understand what will become of them.
SCENARIO 1: private negotiation
In the event that no binding proposal arrives today, the law of the extraordinary administration provides that the public tender ends and that the commissioner proceeds with the private negotiation to find a buyer. In short, investors will have to be found willing to acquire Acc.
There will be time until March 16 to manage this type of negotiation, it being understood that the law provides that, in the event that there are interesting negotiations on the table, the procedure can be extended for another three months. In practice, it could be up to June.
If the negotiation is successful, the commissioner will proceed with the sale of Acc in the summer of next year.
In the meantime, the factory could continue to produce, working 3-4 days a month, but only if the money promised by the Ministry of Economic Development through article 37 of the Sostegni decree arrives.
SCENARIO 2: no buyers
I know there are no offers on the table, with the second company interested in Acc deciding not to submit its binding plan, and if no buyers are found through private negotiations by mid-March, bankruptcy proceedings will begin. In this case, the workers will be able to take advantage of one year of extraordinary layoffs, but the factory will remain closed and will be sold in its components: machinery and laboratories.
A hypothesis that nobody wants to consider in Borgo Valbelluna.
SCENARIO 3: there is an offer
If today, at the opening of the envelopes, there should be a binding offer on the table of the extraordinary commissioner and this offer will be deemed appropriate, the bidder will be deemed successful and the extraordinary commissioner – together with the Ministry of Economic Development – will proceed with the exclusive sale up to the so-called closing, that is to say the definitive sale of the company.
The new buyer will come to manage the company, presumably starting in the new year. This is the hypothesis that everyone hopes will be realized, to give a future to the three hundred workers of the Zumellese plant.