Italy's Not the Economic Basket Case You Thought
Southern Europe is showing the north how it’s done. Now comes the hard part.
Italian factories might teach Germany’s a thing or two.
Source: EuroGroup Laminations S.p.A.
On a hot June afternoon in a humdrum-looking business park on the outskirts of Milan, far from the crowds flocking to Rome’s Trevi Fountain or Venice’s Piazza San Marco, a family-owned business is riding the green-energy revolution — and an under-the-radar economic rebound.
The insatiable demand for electric cars and infrastructure requires electric motors, and electric motors require the stators and rotors being pumped out by workers in protective gear at Eurogroup Laminations SpA, a company founded in 1967 that went public earlier this year and helped put Italy atop Europe’s market for initial public offerings. This is no overhyped SPAC-backed startup, but a firm whose profits doubled last year supplying automakers such as Ford Motor Co. and Volkswagen AG.