Iveco sells Magirus firefighting division to Mutares
A key development in the specialized vehicles sector
In a significant move for the specialized vehicles sector, Iveco Group has announced the sale of its firefighting division, Magirus, to the German investment company Mutares. This decision marks a turning point for the company, which had already expressed its intention to divest this branch last year, citing its distance from its core business and a loss of 30 million euros, with 3 million specifically attributable to the Via Volturno plant in Brescia.
Implications for the Brescia plant and its employees
The transaction, which will not be finalized before January 2025, raises important questions about the future of the Brescia plant, which currently employs 170 employees plus 25 temporary workers. Although this location is not a production site, but is mainly involved in assembly and has orders until the end of 2024, its fate remains uncertain. Magirus has four other units in Europe, with two plants in Germany and one each in France and Austria.
Union response and workers’ perspective
Fiom, the metalworkers’ union affiliated with Cgil, has expressed concern about the employment of the employees, while recognizing that Iveco is solving a problem by divesting a loss-making company. Attention is now focused on ensuring job continuity for the employees involved.
Commitment from local authorities
For their part, the local authorities of Brescia, including Mayor Laura Castelletti, have welcomed Iveco’s willingness to maintain an open dialogue with the city. They have expressed optimism that Mutares’ new industrial plan may enhance the value of the Brescia plant. Importantly, they have requested the opening of a direct communication channel with the German fund, which has been positively received.
This transaction could represent an opportunity for Magirus to embark on a new phase of development and growth under Mutares‘ guidance. However, it remains essential for the parties involved to work together to ensure job continuity and protect the employees. As emphasized by Paolo Fontana, the Forza Italia group leader in the City Council, it is crucial that the agreements include solid guarantees for job retention, in order to preserve the human and professional value that has contributed to Magirus’ success over the years.
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