MERZARIO S.p.A. BANKRUPTCY

Andrea Merzario began his activity in 1835 with the "Impresa delle Diligenze Merzario" and in the following years it acquired its specific international character that would have determined the future development and growth.
At the end of the XIX century, the Genoa-based branch started to develop ocean freight with the opening of an office in Massaua that made Merzario the first shipping agent to be based in Africa.
Only after World War II, Andrea Merzario began its great expansion with the opening of several branches in Italy, Europe, in the Middle East and in the Americas.

From the "daily service of stagecoaches and express vans" to automated container ships with a fleet of 27 ships on duty and employs 3,000 employees all over the world. The efforts of four generations of businessmen and employees have been successful and have contributed to the expansion of the Merzario brand in the world, while supporting the growth of Italian industry and the dissemination of Italian products abroad.
However, the crisis in the transportation industry determined by the two oil crises has led to a deep re-structuring of the company and optimization of the international structure and, dropping the shipping company activity, Merzario did not change into a mere shipping agent but in an M.T.O. o Multi Transport Operator covering the different types of freight, for every product category and on all shipping routes.
In the early 90s, the Company recorded a sustained increase of sales and positive bottom line results. In 1997 the consolidated sales of the Merzario Group amounted to about 600 billion Italian Lire.

In 1998 the Società Genovese Finanziaria purchases the Merzario line of industry and merges it with one of its subsidiary companies, Luigi Serra, creating the SM Logistics Gruppo Serra Merzario SpA with the aim of establishing the most important Italian node for the logistics of transport services, featuring a major global network.
The development plans prepared by the new ownership could not be implemented because the required financial resources were lacking and the Company is in such difficulty that a new shareholder is necessary, to rebuild the capital stock after the heavy losses accrued in the meantime.
In July 2001 a well-known new economy player takes over the Company, but the re-launch of the Company is jeopardised by the events that affected, and eventually wrecked a great number of his companies. In June 2004 Merzario S.p.A is wound up, and on July 29, 2005 it is declared bankrupt.