The Nexion Group, best known as the manufacturer of the Corghi brand of garage equipment, has extended the suspension of work in its Italian factories and offices for a second week, up to 5 April. The decision comes in compliance with the Italian government’s 25 March decree, implementing “urgent measures to deal with the epidemiological emergency from COVID-19.”
The Nexion Group has suspended all activities at its Italian factories and offices until Sunday 29 March. The company had managed the situation by minimising risk to its employees while continuing some business functions until now but has taken the decision to enact the closure based on current circumstances. The company, best known for the Corghi brand of garage machinery distributed by Rema Tip Top UK, states that it will use the closure as an opportunity to “check, improve and guarantee” health and safety measures currently in place at its plants.
Private equity firm One Equity Partners (OEP) reports making a “significant minority investment” in Italian workshop machinery and automotive solutions company Nexion S.p.A. Financial terms of the private transaction have not been disclosed.
