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☆ Italy's Illycaffe to pay global employee bonus, CEO tells paper
▼ + stars: | 2022-10-23 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 23 (Reuters) - Italian premium coffee maker Illycaffe will pay a cash bonus to its employees to help them cope with increasingly stretched finances, its chief executive told Il Corriere della Sera newspaper on Sunday. The Ukraine crisis has lowered economic growth expectations around the world while soaring inflation is taking a heavy toll on household finances, especially in Europe. Illycaffe CEO Cristina Scocchia said the company would split a 500,000 euro ($493,000) bonus pool among its 1,350 employees worldwide by the end of the month. Register now for FREE unlimited access to Reuters.com Register"We need to combine profits and social values," she said. ($1 = 1.0142 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Italian unions to start wage talks next week with Stellantis, Ferrari
▼ + stars: | 2022-10-20 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +2 min

MILAN, Oct 20 (Reuters) - Italy's unions will meet representatives of companies including carmakers Stellantis (STLA.MI) and Ferrari (RACE.MI) on Oct. 26 to start talks over wage increases, a senior official from the UILM union said on Thursday. On Wednesday FIM-CISL, UILM, Fismic, UGLM and AQCF unions said their delegates had approved a proposal presented last week by their leaders for new four-year contracts for most workers in Italy at Stellantis, Ferrari, Iveco (IVG.MI) and CNH Industrial (CNHI.MI). The proposal includes a request for a wage increase of 8.4% for next year to counter rising inflation. Register now for FREE unlimited access to Reuters.com RegisterThe meeting will be held next Wednesday morning in the northern city of Turin where Stellantis, Iveco and CNH Industrial have their Italian headquarters. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari Editing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.

The spot where a floating storage and regasification unit will be set up is seen in front of the port city of Piombino, Italy, October 20, 2022. Such a big-scale project will help Italy avert a supply crunch it could otherwise face next winter, but keep it hooked on gas for longer, slowing down its transition to renewable energy. A new rightist government, widely expected to be led by Giorgia Meloni, could be sworn in as soon as next week, with no sign that Rome's line on Piombino project - endorsed by Italy's industrial lobby Confindustria - could be changed. With little domestic gas production and a ban on nuclear power generation, Italy heavily relies on imports for its energy needs. Some local and environmental grassroots associations and unions gathered in Piombino on Thursday for a rally against the project.

☆ Italy's Brembo sets up venture capital arm to invest in tech startups
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 19 (Reuters) - Premium brakes maker Brembo (BRBI.MI) said on Wednesday it had set up an internal venture capital unit, called Brembo Ventures, to accelerate the development of technologic solutions to be applied to the automotive industry. A spokesman for the group said Brembo Ventures was a unit and not set up as a proper venture capital fund with an initial financial endowment. Register now for FREE unlimited access to Reuters.com RegisterBrembo Ventures will invest in startups globally, focusing on artificial intelligence, big data, sensors, mechatronics, energy efficiency and sustainability, it said in a statement. "With Brembo Ventures, we are even more structured to seize the market opportunities that can contribute to our goal of redefining future of braking systems and mobility," Brembo's Chief Business Development Officer Roberto Grazioli said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari; editing by Agnieszka FlakOur Standards: The Thomson Reuters Trust Principles.

☆ Italy unions to pursue 8.4% wage claim at Stellantis and Ferrari
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +2 min

Stellantis logo is seen on the company's headquarters in Poissy near Paris, France, February 20, 2022. REUTERS/Gonzalo FuentesMILAN, Oct 19 (Reuters) - Italian union delegates on Wednesday approved a proposal presented by their leaders to seek a wage rise of 8.4% for next year at Stellantis, Ferrari, Iveco and CNH Industrial, setting the scene for formal talks with the industrial groups. Consumer prices rose 8.9% year on year in Italy in September and workers are seeking higher wages in response. Leftist union FIOM is not part of these talks and has presented its own separate requests. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari; editing by Agnieszka Flak and Keith WeirOur Standards: The Thomson Reuters Trust Principles.

☆ TIM board has not decided over request to extend deadline for network deal-source
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: 1 min

MILAN, Oct 14 (Reuters) - A board meeting of Telecom Italia (TIM) did not take any decision on Friday over a request by state-lender CDP and its partners to extend a deadline to clinch a deal over the Italian phone group's network, a source close to the matter said. CDP, infrastructure fund Macquarie and Open Fiber have asked for more time to negotiate a deal to buy TIM's network assets, pushing back an initial deadline for a binding agreement set at the end of this month. The representatives of TIM's top shareholder Vivendi (VIV.PA) were not able to attend the meeting, a person close to the French group said earlier on Friday. Register now for FREE unlimited access to Reuters.com RegisterReporting by Elvira Pollina, writing by Giulio Piovaccari, editing by Gianluca SemeraroOur Standards: The Thomson Reuters Trust Principles.

☆ Stellantis signs framework deal for Fiat vehicle production in Algeria
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 13 (Reuters) - Carmaker Stellantis said on Thursday it had signed a framework agreement with Algeria to develop activities of its Fiat brand in the county, including for local production of vehicles. The deal covers a project for the development in Algeria of industrial, after-sales and spare parts activities for Fiat, as well as the development of the automotive sector in the country, Stellantis said in a statement, after signing the agreement with the director of cooperation of Algeria's industry ministry. The world's fourth-largest carmaker, which houses brands including Peugeot, Citroen, Alfa Romeo, Jeep and Opel, did not provide further details about the activities it will start under the agreement. "The quality of the ongoing discussions makes us confident about the development prospects of the Fiat brand, which will be keen to meet the expectations of Algerian customers," Stellantis CEO Carlos Tavares said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari; Editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ Stellantis opens software hub in India to support digital strategy
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +2 min

MILAN, Oct 12 (Reuters) - Carmaker Stellantis (STLA.MI) said on Wednesday it had inaugurated a new software hub in Bengaluru, India, its second innovation centre in the country, focusing on cockpit and driver assistance technologies. Stellantis aims to generate 20 billion euros ($19.4 billion) in additional annual revenues by 2030 from its software-driven strategy. It will house laboratories including a next-generation acoustic one, developing specific audio signatures as well as premium audio experiences for Stellantis vehicle owners. read moreStellantis, the world's fourth largest carmaker, is present in the Indian market with its Jeep and Citroen brands. ($1 = 1.0305 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Stellantis set to boost recycled material content in vehicles
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

MILAN, Oct 11 (Reuters) - Stellantis (STLA.MI) will seek to upgrade its mid-term target for the minimum percentage of recycled material in its vehicles from 35%, the carmaker's Senior Vice President Global Circular Economy Alison Jones said on Tuesday. In its business plan Stellantis has set a goal to boost revenues of its recycling business ten-fold to over 2 billion euros ($1.94 billion) by 2030. "We talk about having a minimum target of 35% of recycled materials in our vehicles, it will vary by vehicles," Jones said. "Of course we'll look to increase that, because we want to make sure we take more material and put it back in our vehicles going forward," she added without specifying what she would increase the percentage to. ($1 = 1.0310 euros)Register now for FREE unlimited access to Reuters.com RegisterReporting by Giulio Piovaccari; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

The logo of Ferrari is seen in the headquarters as CEO Benedetto Vigna unveils the company's new long term strategy, in Maranello, Italy, June 15, 2022. They cover almost 70,000 workers in Italy, two thirds of them at the former Fiat-Chrysler, which last year merged with France's PSA to create Stellantis, whose brands also include Peugeot and Jeep. Spokespeople for Stellantis and Iveco said they would not make any comment until unions have filed a formal request, in coming days or weeks. The Agnelli family's holding company Exor (EXOR.AS) is a major shareholder in carmakers Stellantis and Ferrari, truckmaker Iveco and agricultural and construction machine maker CNH Industrial. This is separate from a national contract for workers in other parts of the metal and mechanical sector.

☆ Stellantis, GME Resources seal nickel and cobalt deal for battery production
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

PARIS, Oct 10 (Reuters) - Carmaker Stellantis (STLA.MI) has signed a non-binding preliminary agreement with GME Resources (GME.AX) to secure supplies of nickel and cobalt sulphate for electric vehicle (EV) batteries, the two companies said on Monday. read moreEarlier this year the Franco-Italian group signed a lithium supply agreement with developer Vulcan Energy Resources (VUL.AX) and said it would invest 50 million euros ($48.6 million)to buy an 8% stake in it. read moreRegister now for FREE unlimited access to Reuters.com RegisterStellantis and the GME mining company said in a statement on Monday that the memorandum "represents the first step toward a potential long-term partnership,". The supply will come from a nickel and cobalt advanced mining project in Western Australia called "NiWest", which GME is currently developing, with a planned production of around 90,000 tonnes per year of battery-grade nickel and cobalt sulphate. Stellantis Chief Purchasing and Supply Chain Officer Maxime Picat said that securing the raw material sources and battery supply would strengthen the group's value chain for EV production and support its decarbonisation target.

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. A spokesperson for Intel did not comment as negotiations are ongoing and confidential. Among other reasons, the site is well connected with Germany and in particular with the city of Magdeburg, where Intel will build two factories, one of the sources added. Intel and the government had also initially considered sites in the Lombardy, Apulia and Sicily regions. The sources declined to provide further details, but Reuters has previously reported that Rome is ready to fund as much as 40% of Intel's total investment in Italy.

Gareth Kaminski-Cook, CEO of Autins, which makes noise-reducing and thermal insulation for carmakers, gives a tour of the auto supplier's factory in Tamworth, Britain, May 3, 2022. Many auto suppliers, already squeezed by rampant inflation and energy prices, say they have little choice but to shoulder the extra costs of making their components sustainable to meet carmakers' environmental targets. "We're going to see a real big shakeout the next five, 10 years in the auto supply chain." The company, which is worth about $39 billion, launched its own sustainability drive in 2020 and is working on recyclable products with carmakers including Volkswagen, Volvo and BMW. Guell says carmakers only want to work with suppliers who use green energy, leaving him in a tight spot.

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. Intel's investment in Italy is part of a wider plan announced by the U.S. chipmaker last March to invest as much as 80 billion euros ($77.5 billion) over the next decade in building capacity across Europe. A spokesperson for Intel did not comment as negotiations are ongoing and confidential. Intel and the government had also initially considered sites in the Lombardy, Apulia and Sicily regions. The sources declined to provide further details, but Reuters has previously reported that Rome is ready to fund as much as 40% of Intel's total investment in Italy.

☆ Stellantis invests in Turin as part of switch to electric
▼ + stars: | 2022-09-20 | by ( Giulio Piovaccari | ) www.reuters.com time to read: +2 min

REUTERS/Massimo Pinca/File PhotoTURIN, Italy, Sept 20 (Reuters) - Stellantis (STLA.MI)signalled its commitment to the historic carmaking city of Turin on Tuesday with an investment to boost its role in electric vehicle production and as a centre for the recycling of cars and their parts. The Franco-Italian group signed an agreement with its partner Punch Powertrain to increase production of electrified dual-clutch transmissions (eDCT) for hybrid and plug-in hybrid electric vehicles at its Mirafiori plant in Turin, the carmaker said on Tuesday. Chief Executive Carlos Tavares said the company was investing upwards of 10 million euros in the gearbox upgrade, without giving a precise figure. Turin is the historic home of Fiat which merged with France's PSA last year to form Stellantis. At full production, the Mirafiori and Metz facilities together will supply all relevant Stellantis manufacturing sites in Europe.

☆ Stellantis invests in Italian plant as part of switch to electric
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterWorkers install a flag with the logo of Stellantis, the world's fourth-largest automaker which starts trading in Milan and Paris after Fiat Chrysler and Peugeot maker PSA finalised their merger, at the main entrance of FCA Mirafiori plant in Turin, Italy, January 18, 2021. REUTERS/Massimo Pinca/File PhotoTURIN, Italy, Sept 20 (Reuters) - Stellantis (STLA.MI) signed an agreement with its partner Punch Powertrain to increase production in Italy of electrified dual-clutch transmissions (eDCT) for hybrid and plug-in hybrid electric vehicles, the carmaker said on Tuesday. The upgraded facility will be developed within Mirafiori, Stellantis' main plant in Turin, northern Italy, and it will complement the existing capacity of a plant in the French city of Metz, it added. The new Mirafiori e-Transmissions Assembly site is expected to start production in the second half of 2024. Register now for FREE unlimited access to Reuters.com RegisterAt full production, the Mirafiori and Metz facilities together will supply all relevant Stellantis manufacturing sites in Europe.

☆ Iveco showcases prototype of large hydrogen van developed with Hyundai
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

The logo of Italian truck maker Iveco is pictured at the IAA truck show in Hanover, September 26, 2014. REUTERS/Fabian BimmerMILAN, Sept 19 (Reuters) - Italy's Iveco (IVG.MI) showcased on Monday a prototype of the hydrogen powered eDaily large van it has developed with Hyundai Motor (005380.KS), the first tangible outcome of a wider partnership between the two manufacturers. Iveco and South Korea's Hyundai Motor in March signed a preliminary deal to explore cooperating on shared vehicle technology, joint sourcing and mutual supply. read moreIn July, they said Iveco would equip its future hydrogen-powered buses in Europe with fuel-cell systems designed by Hyundai's hydrogen mobility brand HTWO. Iveco added that Hyundai was also considering sourcing opportunities from FPT Industrial in the area of next generation conventional powertrains for commercial vehicles.

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