Marzocchi to close doors
The class Italian suspension manufacturer, Marzocchi, has made its last componentBought by American automotive parts manufacturer Tenneco in 2008, Marzocchi has closed its doors.
Founded
in 1949 by two brothers Stefano and Guglielmo Marzocchi, the company
profile includes hydraulic industrial pumps and suspension components
for motorcycles and bicycles. Since inception, the company has at one
time been an OEM manufacturer for Ducati, Triumph and Moto Morini, among
others.
The completed closure is expected to take place at the
end of 2015, with the loss of approximately 138 jobs. These include 127 at the Marzocchi factory in Bologna, and others in North America and Taiwan.
According to
Tenneco, the company will spend around $US27m ($A36.7m) in
the third quarter of the year in relation to the liquidation. The money
is said to cover severance and other employee-related costs, asset
impairment charges and all the other things that derive from the
closure.
Tenneco's decision was made only three years after
buying Marzocchi, and there appears little prospect that the company
will be saved by other investors.
Tenneco also announced that its
current bike customers will be assisted in the transition to another
supplier, whose name remains so far undisclosed.
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