Tunneling Industry

This firm operates in the fields of engineering and construction.

The firm was grounded in 1880 as a joint-stock company for projecting, realizing and managing of hydraulic and reclamation works. It was listed in the Milan stock exchange in 1884.

Because of the importance of the firm, which at that moment had 2,800 employees, it was put under the Special Administration procedure based on Marzano La wandnr. Three special administrators were chosen with the aim of creating a new company that would manage the huge order backlog and to remove the debts of the company.

In such scenario the special administrators published a tender for selling nr. 5 macro-lots of surplus assets (incl. soil moving and tunnelling equipment, special equipment for public works, lifting equipment & rolling stock, etc.) which PIPM got awarded and finally purchased by notarial deed.

The project of remarketing the assets and freeing the area where they were stored is in progress with success and is respecting planned delivery terms.