On December 24, 2015 the Court of Modena, after a close and an in-depth examination, formalized the "Admission" of the composition with creditors procedure to rescue the Company Goldoni SpA pursuant to and in accordance with Articles 161 and 186 of the Italian Bankruptcy Law.
The presented rescue plan is stating and is making "Chrystal clear" that Lovol Arbos Group SpA takes control of Goldoni. Lovol Arbos Group is an industrial and investment Holding, 100% owned by Lovol Heavy Industry Ltd. based in Weifang, Shandong Province in the People’s Republic of China.
This is a crucial milestone for the rescue and the industrial revitalization of Goldoni the historical company based in Migliarina di Carpi (Modena), focused on the production of vineyard and orchard tractors, agricultural transporters and motor cultivators.
Thanks to an interim financing authorized in mid-November by the Court of Modena and promptly activated by Lovol Arbos Group SpA, the preparatory activities for the manufacturing re start up are already underway and it is expected to restart the assembly lines by the middle of current month of January.