The Volkswagen Group has completed the acquisition of Italdesign Giugiaro S.p.A. (IDG), Turin. Volkswagen now holds a 90% in IDG, including the brand name rights and patents. The remaining shares will stay in the possession of the present owner family Giugiaro.
Ralf-Gerhard Willner (49) and Salvatore Cieri (53) have been appointed to the Executive Committee of the Board of Directors of IDG.
“Italdesign has now become a permanent member of the Volkswagen Group. Given the full order books and numerous interesting projects, the perspectives are better than ever,” said Martin Winterkorn, Chairman of the Board of Management of Volkswagen Aktiengesellschaft.
“In view of our ongoing model initiative and the associated development and design assignments, we will be expanding Italdesign’s highly-motivated and productive team,” Winterkorn added.