Industry

The Iveco dossier at the Mimit; Tata confirms Italia’s central role

Trade unions: “We will ensure that these commitments are backed up by concrete strategies” – Urso reiterates: “Iveco is a key asset for Italia”

 IMAGOECONOMICA

3' min read

Translated by AI
Versione italiana

3' min read

Translated by AI
Versione italiana

On the one hand, the commitment to maintaining Iveco’s entire industrial footprint and the confirmation of Italia’s central role in research and development. On the other hand, however, there is concern over a social clause that protects jobs in Italia – 14,000 employees in total – for ‘only’ two years. This is what emerged following the meeting at the Ministry of Economic Development (MIMIT), scheduled in the wake of the sale of the historic Italian company – which operates in the commercial vehicle and bus sector – to India’s Tata Motors.

During the meeting, the CEO of the Iveco Group, Olof Persson, confirmed the investments made – totalling around 76 million euros – in the four Italian plants: 35 million in Turin, 15 in Foggia, 14 in Suzzara and 12 in Brescia. Girish Wagh, CEO of Tata Motors Commercial Vehicles, highlighted in particular Italia’s central role in Iveco’s future, emphasising the importance of the plants, technological expertise and the national supply chain.

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“The commitments set out must be subject to thorough checks and further scrutiny. They must not represent a limited timeframe, but must outline the industrial future of the Iveco Group,” emphasised Stefano Boschini, national coordinator of Fim Cisl Automotive, and Ferdinando Uliano, general secretary of Fim Cisl. As for Fiom, “with regard to non-financial commitments, the Government must insist on guarantees for our country extending beyond two years. We must ensure that the commitments are long-term in terms of employment, research and development, and production’, as emphasised by Samuele Lodi, head of the automotive sector for the CGIL metalworkers’ union.

“We welcome Tata Motors’ commitments,” comments Gianluca Ficco, Uilm’s national secretary responsible for the automotive sector, “but they must be translated into a new industrial development plan for all Italian plants: this is why we are calling for close consultation.” The plan to be drawn up by the new Indian owners will aim to consolidate the future of a Group set to have two industrial bases – one in Europe and one in India – with two complementary markets and potential synergies.

“Iveco is a strategic asset for Italian industry and a source of pride for ‘Made in Italy’. The commitments confirmed today by Tata Motors must translate into a tangible industrial revival, strengthening the group’s manufacturing presence in Italia and its competitiveness on international markets,” emphasised Adolfo Urso, Minister for Enterprise and ‘Made in Italy’. “Our aim is to ensure continuity of production and safeguard jobs, whilst protecting the group’s expertise and technological assets,” Urso emphasised.

The agreement for the sale of the industrial asset controlled by Exor dates back to July 2025; the voluntary full takeover bid for the Iveco Group has now entered its operational phase, with the publication of the Offer Document on 4 September 2026. A few days ago, Tata Motors, through the company TML CV Holdings, increased the price to be paid for Iveco shares from €14.10 to €14.40. The acceptance period for shareholders will run until 26 October, whilst an Extraordinary General Meeting of Iveco Group is scheduled for 16 October to vote on the resolutions relating to the transaction.

The next step following the public takeover bid will be the potential acquisition by Tata Motors of the remaining stake, with the ultimate aim of holding 100 per cent of the company’s share capital and delisting the Iveco Group from the Milan Stock Exchange.

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