The tannery closed its 2013 financial year with a profit of €3.1 million as a result of the company restructuring its debts which were approved by the local court in March.

Conceria Giada is owned by the same group as A. Esse tanning group, which includes Conceria Sabrina was founded by Callisto Dal Maso in 1977 specialising in the production of furnishing and clothing leathers.

However, turnover at Giada has fell to €3.7 million in 2014 from €11 million in 2013 and €14.9 million in 2012. Therefore, the owners of the business, the Dal Maso family, have decided that it is uneconomic to continue. The 36 employees are made redundant.

Local trade unions had asked the owner, Stefania Dal Maso for guarantees. According to local Italian media reports the major shareholder is Silvana Concato Arzignano with 81% of the shares.

Workers at the via Olmipica based tannery in Arzignano are on a summer vacation until August 25 but are laid off in accordance with local Italian redundancy and employment laws.

Source: Il Giornale di Vicenza