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Mondial Group in crisis

ITALY: Commercial refrigeration equipment manufacturer Mondial Group is reported to be in crisis after announcing redundancies to half of its workforce.  

The cuts involving 110 workers at its Mirabello Monferrato factory follows the closure of its Montemiletto plant and 70 redundancies at the beginning of December.

The Mondial Group was formed in 2006 from the merger of Mondial Elite and Framec, two brands with wide experience in the commercial refrigeration field from more than 60 years.

Attempts to attract outside investment have been unsuccessful, but a consortium of fifteen workers have plans to create a new company, Mondial Refrigeration.

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