Trade With Italy Magazine VOL. XVI N. 1 2016

TRADE

ITALY WITH

VOL. XVI N. 1 2016

2016

Italy-America Chamber of Commerce

CO U N S E LO R S

AT

L AW

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This material has been prepared solely for information purposes. The products and services featured above are offered by a network of banks and representative offices of UniCredit S.p.A. or its affiliates This material has been prepared solely for information purposes. The products and services featured above are offered by a network of banks and representative offices of UniCredit S.p.A. or (the “UniCredit Group”) in accordance with appropriate local legislation and regulation. UniCredit Corporate & Investment Banking is a trademark of UniCredit S.p.A. Nothing in this publication is intended its affiliates (the “UniCredit Group”) in accordance with appropriate local legislation and regulation. UniCredit Corporate & Investment Banking is a trademark of UniCredit S.p.A. Nothing in this to create contractual obligations on any of the entities composing Corporate & Investment Banking Area of UniCredit Group. Corporate & Investment Banking of UniCredit Group consists of UniCredit Bank publication is intended to create contractual obligations on any of the entities composing Corporate & Investment Banking Area of UniCredit Group. Corporate & Investment Banking of UniCredit AG, Munich, UniCredit Bank AG, Vienna, UniCredit S.p.A., Rome and other of the UniCredit Group.

Banking, Markets and Investment Services are provided in the US by Group consists of Austria UniCredit Bank AG, Munich, UniCredit Bank Austria AG, members Vienna, UniCredit S.p.A., Rome andInvestment other members of theCapital UniCredit Group.

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by UniCredit Capital Group Markets LLC, member of FINRA and SIPC. UniCredit Group its subsidiaries subject to regulation by the European Central by the Federal Financial Authority (BaFin),UniCredit AustriaFinancial AG is regulated by the Austrian Financial Market Authority (FMA), and UniCredit S.p.A. isFinancial regulated by both the Banca Bank. InSupervisory addition UniCredit Bank AG is regulated byBank the Federal Supervisory Authority (BaFin),UniCredit Bank Austria AG is regulated by the Austrian Market Authority (FMA),d’Italia and and the UniCredit S.p.A.per is regulated the Banca d’Italia and the Commissione Nazionale per le Società e la Borsa (CONSOB).

Commissione Nazionale le Societàbye both la Borsa (CONSOB).

index 3 Editorial: IACC President 4 Secretary General Francesco De Angelis to Retire 7 Board of Directors 9 Senior & Senior Sustaining Members 11 Business and Culture Award

13 IACC Member Anniversaries 15 Business News 22 News From Chamber/ New Members

26 2015 Gala Dinner Plaza Hotel 32 new Secretary General Federico Tozzi

34 Sluggish investment commodity story 36 Avoiding Environmental Enforcement Headaches 40 OMNIA Announces New President 42 Upcoming Wage and Hour Overtime Regulations 44 Luciano Moresco 48 IACC Member Profile: Boies, Schiller & Flexner 50 don’t bank retirement on Business 52 IACC Member Profile: Quintet Partners 54 ITALY’S MEDIATION LAW Trade With Italy

VOL. XVI N. 1 2016

read Trade With Italy online: www.issuu.com/tradewithitaly www.tradewithitaly.blogspot.com Trade With Italy is published by The Italy-America Chamber of Commerce

Executive Editor Francesco De Angelis

Editorial Content Alberto Milani, Franco De Angelis, Federico Tozzi Alice Biagini, Allison Errante, Giulio Viola, Richard Mattaccio, Dr. Harm Bandholz, CFA, Alfed DeMaria, Robert Gibson, Luciano Moresco, John Jablonski, Jeffrey Kingsley Nicholas Gravante, Eugene Nardelli

Creative Direction John Battista De Santis Webb Communications

Advertising Alice Biagini, biagini@italchamber.org Allison Errante, errante@Italchamber.org Tel: 212.459.0044 Italy-America Chamber of Commerce 730 Fifth Avenue, Suite 502 New York, NY 10019 Tel. (212) 459-0044 Fax (212) 459-0090 www.italchamber.org • info@italchamber.org Contents of this publication may not be reproduced in any form without prior written permission of the Italy-America Chamber of Commerce, Inc.

Italy-America Chamber of Commerce • www.italchamber.org

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Italy-America Chamber of Commerce New York, NY Established 1887

editorial

3

Italy-AmErica Chamber of Commerce President, Alberto Milani

On November 6, 2015, the Italy-America Chamber of Commerce (IACC) hosted its 128th Annual Gala Dinner at the Plaza Hotel in New York.

O

ver 350 members attended the Gala.

The audience was comprised of IACC members, VIP representatives of Italian business, cultural and diplomatic communities in New York, members of the foreign and local press, representatives from NY State economic organizations and other members of the local business community.

Considered one of the most important Chamber events of the year, the 2015 IACC Gala was an occasion to celebrate the collaborative efforts among all Italian institutions in New York (Sistema Italia) and the strategic role played by the Italy – America Chamber of Commerce in coordinating those efforts.

This role has been the core mission of the IACC since its establishment in 1887 but today is of utmost importance due to the increasing relevance of the American market in the world economy and the growing number of Italian Companies present in the United States.

Establishing a presence in the US is no longer an optional corporate strategy, it is a necessity for companies based abroad. The IACC wants to be seen as the main point of reference for those companies. In order to do Trade With Italy

so the unified efforts of the Italian institutions (Sistema Italia) with the IACC, will offer them the maximum results and exposure.

In the spirit of collaboration with all the Italian entities operating in New York, the 2015 IACC Business and Culture Award was presented to the Consul General of Italy in New York, Minster Plenipotentiary Natalia Quintavalle.

In September of 2011, Natalia Quintavalle was appointed Consul General of Italy in New York, covering the states of New York, Connecticut and the British Territory of Bermuda. Following the closing of the Italian Consulate in Newark in March 2014, its jurisdiction was expanded to include seven counties in northern New Jersey. The Italian Consulate in New York is currently serving approximately 90 thousand Italians and 3 million Italian Americans making it the most important in the US. Minister Natalia Quintavalle was selected to receive the 2015 IACC Business and Culture Award in recognition of her continuous commitment to strengthening the Sistema Italia, and her vital role in the promotion of Italian culture and business throughout the course of her appointment in the United States.

Italy-America Chamber of Commerce • www.italchamber.org

A farewell

5

W

hen Secretary General Francesco De Angelis retires next March after 20 years in the role and a total of over 45 years with the company, he will look back to the day when he joined the Chamber. In recalling his first day on the job the only regret he has, after more than four decades, is not keeping a diary to document his most memorable moments.

First and foremost, he will acknowledge the role played by his wife Belen in his life and career. For 45 years she has been his moral strength. He did not have many with whom he could share his struggles, doubts, and worries.

He used to come home drained, and his wife Belen filled him up. Home has been a haven–a recharge station. It has been said that behind every good man is a better woman, and Belen has been. Marriage is a wonderful institution in which each half supports the other. In Francesco case, his wife often was the one who propped him up and renewed his desire to keep going.

September 11th, 2001 will be indelible from his memory.

The cruel act of terror that struck the heart of New York City reverberated around the world, generating an outpouring of expressions of solidarity for all citizens of this great city. This horrific event took place just a few days after the Chamber hosted a meeting of the Board of Directors of Assocamerestero (Association of the Italian Chambers of Commerce Abroad).

But there will be better moments that he will remember, as when the 27th edition of the Guido Dorso Award was presented to him in a ceremony held at the Senate of the Italian Republic in Rome by Franco Marini then President of the Senate.

A memorable day followed when he received the highest badge of honor in Italy, Knight Officer of the Order of Merit of the Italian Republic bestowed to him by Giorgio Napolitano, President of the Republic.

And then the Council of the town of his birth, Sant’Angelo dei Lombardi, Avellino, unanimously voted to award him the honorary citizenship during a two-day ceremony.

He will never forget the private audience with Pope Benedict XVI, in the Vatican, in the occasion of the festivities for the 125th anniversary of the Chamber.

Trade With Italy

He was moved when The Italian Hospital Society decided to reward him for his commitment and active participation to the construction of the Italian Home for the Aged.

He will cherish the working relationship he had with all the Presidents and Board members during his tenure as Director of the Chamber. Most of all he is indebted to his colleagues, in particular Deputy Secretary General Federico Tozzi, assistants Alice Biagini and Allison Errante for their tireless and enthusiastic work and their support in his successful endeavors to make the Chamber the number one among all the Italian binational chambers in the world. He is confident that with Federico Tozzi at the helm the Chamber will flourish and continue growing.

Francesco De Angelis, who remains affiliated with the Chamber in an advisory capacity, has been named Secretary General Emeritus. He will continue his relationship with the Chamber that meant so much for him for so long time and to which he owes a great debt of gratitude.

Italy-America Chamber of Commerce • www.italchamber.org

Italy-America Chamber of Commerce New York, NY Established 1887

Board of Directors

Founded in New York in 1887, the Italy-America Chamber of Commerce is the oldest binational chamber of commerce in the United States and ranks among the most prestigious of its kind. The Chamber has dedicated itself to accomplishing two primary aims: to further commerce and trade between the United States and Italy and more importantly, to promote its members and assist them in the realization of all their business goals.

Honorary Advisory Board:

CLAUDIO BISOGNIERO Ambassador of Italy to the United States AMBASSADOR SEBASTIANO CARDI Representative of Italy to the United Nations NATALIA QUINTAVALLE Consul General of Italy in New York MAURIZIO FORTE Executive Director for North America Italian Trade Commission, New York VALERIO SCOYNI Executive Director for North America Italian Government Tourist Board GIORGIO VAN STRATEN Director Italian Cultural Institute of New York

Board Of Directors: LUCA BONARDI KPMG LLP FRANK CIANO Goldberg Segalla LLP ALBERTO COMINI Omnia Industries ANGELO COPPOLINO MSPC ENRICO DE ALESSANDRINI Azienda Vitivincola Bergaglio ALFRED DE MARIA Clifton, Budd & De Maria FRANK DESIDERIO Grunfeld Desiderio Lebowitz Silverman Klestadt SIMONE GENTILINI Mionetto USA LUCA INFANTINO Kiton N.A.

Recent past President:

FABIO CATASSI Interlink Transport Technologies

Secretary General Emeritus FRANCESCO DE ANGELIS

ADVISORS: Legal

GEORGE PAVIA Pavia & Harcourt LLP

Tariffs and Trade

FRANK DESIDERIO Grunfeld, Desiderio, Lebowitz, Silverman & Klestadt LLP

Immigration

ANNALISA LIUZZO Liuzzo & Associates

Marketing & Communications

JOHN BATTISTA DE SANTIS Webb Communications

Economy

GIOVANNI MAJNONI U.S. Representative Bank of Italy

LUCIANO MORESCO Luciano Moresco & Co. Ltd

PROF. GIUSEPPE AMMENDOLA, PH.D. New York University

Board Of Directors:

GEORGE PAVIA Pavia & Harcourt

Information Technology

President:

ALBERTO MILANI Buccellati, Inc

Executive Vice-President:

LUIGI PECORARO, MBA Level Group, Inc. MAURO PORCINI PepsiCo, Inc.

ROBERTO CONSALES Rocon Technology Corps

BRAND POSITIONING

GIOVANNI PELLERITO

Independent Auditor

CRISTIAN NOTARI Max Mara USA, Inc.

DIEGO RODINÒ DI MIGLIONE Cushman & Wakefield, Inc

GIUSEPPE BRUSA, CPA LLC GC Consultants, Inc.

Vice-President:

GIOVANNI RONCA Banking Americas / Unicredit

Vice-President in Italy

JOSEPH RUBINO Telecom Italia

Representative in Italy

GAETANO SCIUTO Fendi North America

Staff:

ANNALISA LIUZZO Liuzzo & Associates

Treasurer:

CARMINE PAPPAGALLO Valentino USA, Inc.

Corporate Secretary: ROCCO TOTINO

Grassi & Co., CPA

VLADIMIRO SINATTI Ferrero ANDREA SORIANI Maserati North America, Inc. PAOLO TORELLO-VIERA Pal Zileri – Foralli USA, Inc.

FRANCESCO NICOTRA GIULIO VIOLA

FEDERICO TOZZI Secretary General ALICE BIAGINI Manager, Membership & Events ALLISON ERRANTE Marketing Associate LISA PETRELLO – Bookkeeper FRANCESCO FOSSI, FRANCESCA CUSAMANO- Interns

Trade With Italy

Italy-America Chamber of Commerce • www.italchamber.org

7

Italy-America Chamber of Commerce New York, NY Established 1887

Sustaining and Senior Sustaining Members Senior Sustaining Members Alitalia Airlines MARIA SACCONI Allos Consulting EMILIO ORLANDINI Bank of the West FRANCESCO INGARGIOLA BDO USA LLP ROSS RIZZO Bencivenga Ward &Company CPAs, P.C. DOUGLAS G. SAGES Boies, Schiller & Flexner LLP NICHOLAS GRAVANTE Buccellati, Inc. ALBERTO MILANI Cambridge Mercantile Group CARLO LASCIALFARE Colavita USA GIOVANNI COLAVITA Delta Air Lines ATHAR KHAN Epstein, Becker & Green PC CARMINE IANNACCONE First National Bank of Long Island ALESSANDRO SCICHILONE Giovaruscio Moving srl JOSEPH PASTORE Giuseppe Brusa C.P.A. LLC GIUSEPPE BRUSA Goldberg Segalla LLP FRANK CIANO Greenberg Traurig Grunfeld, Desiderio, Lebowitz, Silverman & Klestadt LLP FRANK DESIDERIO

Kiton LUCA INFANTINO Liuzzo & Associates ANNALISA LIUZZO Maserati North America, Inc ANDREA SORIANI Pavia & Harcourt LLP GEORGE PAVIA Pepper Hamilton LLP

Fragomen, Del Rey, Bernsen & Loewy LLP FRANCESCA MOSCHETTA JP Morgan Chase & Co RON PALLADINO La Villetta Ristorante LUIGI SCARPELLI Law Offices of Nicola Tegoni NICOLA TEGONI

Pirelli Tire North America PIERLUIGI DINELLI

Luxottica USA LLC HOLLY RUSH

Schnader Harrison Segal & Lewis LLP CHRISTIAN MORETTI

Mediterranean Shipping Co. (USA), Inc. FABIO SANTUCCI

Victory Financial Group ROCCO BERARDI Vincenti & Vincenti, P.C. JOHN V. VINCENTI Vitelli Foods LLC CLAUDIA VITELLI

Sustaining Members

Azienda Vitivincola Bergaglio Pier Carlo ENRICO DE ALESSANDRINI Banca Monte dei Paschi di Siena S.p.A. VINCENZO CIANCIO Banca Popolare di Vicenza GIANNI SELLERS BCUBE Inc MARIO PEJRONE Bulgari Corporation of America Collemi Consulting & Advisory Services, LLC SALVATORE COLLEMI Enotria Translations LLC CHARLES SANT’ELIA

International Tool Mfg. BERARDO PARADISO

Ferrero USA, Inc. VLADIMIRO SINATTI

Intesa Sanpaolo BIAGGIO CALABRESE

Event Boost MICHELE PIERI

Trade With Italy

9

Mionetto USA, Inc. SIMONE GENTILINI Pantano & Gupta Studio Legale ANTHONY PANTANO Piaggio Group Americas, Inc. MARIO DI MARIA Plum Builders, Inc. AL GIAQUINTO Proskauer Rose LLP BALDASSARE VINTI Service Channel LISA DEL PERCIO Toy Watch Usa AGOSTINO MAGNI UBI Banca S.p.A. ANDREA DE BENEDITTIS Valentino USA, Inc. CARMINE PAPPAGALLO Withers Bergman CORRADO MANUALI

Italy-America Chamber of Commerce • www.italchamber.org

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Italy-America Chamber of Commerce New York, NY Established 1887

The Business and Culture Award

T

11

he “Business and Culture Award” is one of the many ways in which the Italy-America Chamber of Commerce strives to promote joint economic and commercial venture between Italy and the United States.

Each year, we recognize an individual or entity that has contributed to strengthening ties between Italy and the United States. By presenting this award, we are able to advance the knowledge of Italy, its culture and the achievement of Italian enterprises and business men and women in both countries.

Past Recipients of the Business and Culture Award include: ALTA ROMA LAWRENCE AURIANA Co-Chair, Kaufman Growth Equity GUIDO BARILLA President of the Barilla Group AMEDEO CAPORALETTI Chairman of Agusta S.pA. CEO of AgustaWestland NV MARIO CASTAGNA Italian Trade Commissioner in N.Y. CARLO AZEGLIO CIAMPI Governor Bank of Italy COSMIT Salone Internazionale del mobile RICCARDO COTARELLA Renowned Oenologist LUCA CORDERO DI MONTEZEMOLO President and CEO of Ferrari S.p.A.

JIM GOLD President & CEO of Bergdorf Goodman

EDWARD D. RE Chief Judge, United States Court of International Trade

HON. LELLA GOLFO President Marisa Bellisario Foundation

PETER RODINO, JR. Chairman of the House Judiciary Committee

EUGENIO MAGNANI Director General, Italian Government Tourist Board

CESARE ROMITI President and C.E.O. of Fiat S.P.A.

MACCIONI FAMILY Owners of Le Cirque 2000

AMBASSADOR RENATO RUGGIERO Director General of the World Trade Organization

NINO MANFREDI International Film and Theater Actor FEDERICA MARCHIONNI CEO of Land’s End ARCHBISHOP RENATO R. MARTINO Permanent Observer of the Holy See to the United Nations LETIZIA MORATTI First Woman Mayor of Milano NASSIR KASSAMALI President of Luminiere

CARLO BAREL DI SANT’ALBANO Chairman of Cushman & Wakefield

RENZO PIANO Architect

EMMANUELE FRANCESCO M. EMANUELE Presidente Fondazione Roma

SERGIO PININFARINA Chairman and CEO of Pininfarina S.p.A.

GIANLUIGI GABETTI Chairman, IFIL Group

NATALIA QUINTAVALLE Consul General of Italy in New York

MASSIMO SARNI C.E.O. poste Italiane S.p.A. GIULIO TERZI DI SANT’AGATA Italian Minister of Foreign Affairs PAOLO TIMONI President & C.E.O., Piaggio Group Americas, Inc. GIANCARLO ELIA VALORI President, Sviluppo Lazio S.p.A. ROMANO VOLTA President, Datalogic MARIUCCIA ZERILLI MARIMÒ Founder, Casa Italiana GIOVANNI ZONIN President & C.E.O. of Zonin Wines

RAI INTERNATIONAL Trade With Italy

Italy-America Chamber of Commerce • www.italchamber.org

Modern elegance for your doors.

Manufacturers of Locksets & Architectural Hardware

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Italy-America Chamber of Commerce New York, NY Established 1887

Member Anniversaries 116 Year Anniversary

Vitelli Foods, LLC (Oldest member in activity)

100 Year Anniversary

Schroeder Brothers, Inc

75 Year Anniversary

Dell Gaizo Brands Corp.

Gerli Co., Inc. Pastene & Co., Inc. Schroeder Bros, Inc.

50 Year Anniversary

Alitalia Airlines The Ambriola Co. Banca Commerciale Italiana Banca di Roma Banca Nazionale del Lavoro Banco di Napoli Banco di Sicilia Banfi Vinterns Bank of America Bel Paese Sales Co., Inc. Brioschi, Inc. Chase Manhattan Bank CIT Torus Corp Citibank Credito Italiano Distillerie Stock USA, Ltd. Domenicao D’Angiola, Inc. Farrell Lines Foa and Son Corporation Richard Fuchs Galvanoni & Nevy Bros., Inc. Gary Valenti Icco Cheese Co., Inc. Italian Line L. Della Cella & Co. Locatelli, Inc Manufacturers Hanover Trust Company A. Piccini & Son, Inc. Olivetti Office USA Otto Roth & Co., Inc. Pavia & Harcourt LLP RAI Corporation Schiavone-Buonomo Corporation G. A. Vedovi

Trade With Italy

13

25 Year Anniversary

ABX Logistics Agip USA American Express Bank, Ltd. American International Underwriters Corp.

Assicurazioni Generali Banca Carige Banca Nazionale dell’Agricoltura Bankers Trust Company Barnes, Richardson & Colburn A. Barra, Inc. Battaglia &Co., Inc. Berio Import Corp.

Bertolli Trading Corp.

Buitoni Food Corp.

Cantoni ITC USA, Inc. Cassa di Risparmio di Firenze Chemical Bank Central Holidays Coca-Cola Export Corp.

Cocce’ Press D. Coluccio &Sons Containership Agency, Inc. Coudert Brothers Crossocean Shipping Co., Inc. Curtis, Mallet-Prevost, Colt &Mosle C. Daniele & Co., Inc. L. Della Cella & Co. Marchese Dott Lino DevitoRemy Antinori Federazione Italiana dei Consorzi Agrari Fedway Associates Ferragamo USA, Inc. Ferrara Food and Confections, Inc. Ferrero USA, Inc. Fiat US Representative, Inc. Finmeccanica Foa & Son Corporation Garanigo, Goldsmith &Weiss George R. Funaro & Co. Genaral Motors Corporation General Shipping & Trading Co. Inc. Goetz & Mendelson D. Grosser and Associates Grunfeld, Desiderio, Lebowitz Silverman, Klestadt LLP Bernard Herold & Co., Inc Herzfeld &Rubin, P.C.

Ilva USA, Inc. IMI Capital Markets USA Corporation Intercon Shipping, Inc. Irving Trust Company Italian Government Travel Office Italian Publications, Inc. S. A. Laraja & Sons, Inc. Lavazza Premium Coffee Corp.

Marco Polo International, Inc. Marx & Newman Company Mercantile Development, Inc. Monte dei Paschi di Siena Morgan Guarantly Trust Co. of New York MTB Bank Nelco Sewing Machine Co. Inc. Omnia Industries Olivetti Corp. of America Aldo Parodi of America, Inc Peerless Importers Pignone, Inc. Pirelli Tire Corporation Pirelli USA Representative Corp Pomezia Textiles, Inc. Premier International Corporation Proskauer Rose LLP Pustorino & Puglisi Co., P. C. Ramsey Imports Inc. H. W. Robinson & Co. Savino Del Bene Schieffelin & Co. J. Henry Schroeder Banking Co. Serra International, Inc. Nino A. Sidari Silverman & Klestadt LLP Swiss Credit Bank, New York Tartaric Chemicals Corporation Techint, Inc. Telecom Italia Group Sparkle of N.A. Union Carbide Corporation Salvatore Vacca, Inc. Valentino USA, Inc. Walker & Zanger, Inc. Withney National Bank of New Orleans Julius Wile & Sons, Inc. Ermenegildo Zegna Corp.

Zust Ambrosetti, Inc.

Italy-America Chamber of Commerce • www.italchamber.org

212.557.4000

IACC Secretary General Emeritus, Francesco De Angelis, provides

BUSINESS NEWS

15

news and new developments from the local business community.

The new DPR Scorpio Plus Digital Label Cutting & Finishing System has arrived in Canada.

This all-in-one finishing system laminates, digitally cuts labels to a precise size and shape (without requiring expensive dies), removes the waste matrix, and slits and rewinds labels.

The Scorpio Plus is made in Italy and distributed through a network of distributors and resellers including DuraFast Label Company in Canada.

D.P.R. LLC is the US branch office of D.P.R. S.r.L., a manufacturing company headquartered in Italy. DPR is a leader in the production of labeling equipment, such as label rewinders and unwinders, compatible with any barcode label printer, electronic label dispensers, automatic label-meter counters, label slitters and a reversible reel to reel machine with counter.

Offering the OEM service, D.P.R. is able to provide customized solutions against specific customer requests.

Involved in the digital color label printing business, D.P.R. Group is now offering to the market new Digital Finishing Solutions equipped with knife or laser cutting systems.

Italcementi Group acquires two Holcim’s facilities in the

northeastern cost of the US. Essroc, the Nord American subsidiary of Italcementi Group, has signed an agreement with Holcim to purchase the slag cement grinding facility in Camden (New Jersey). As part of the transaction, Essroc will also obtain Holcim cement terminal in Everett (Massachusetts). The acquisition will be finalized when the pending Holcim and Lafarge merger completes later this year. Holcim’s staff in Camden Trade With Italy

and Everett will join Essroc.

pany based in Rockford, Illinois.

Italcementi Group operates in the USA, Canada and Puerto Rico through Essroc. Set up in 1866 as Coplay Cement, the company started producing cement in 1872. The name changed into Essroc in 1989 to allow the Company to complete under one name across North America.

Enviro-Care has been manufacturing liquid/solid separation and solids reduction technology for the wastewater industry since 1972. The company is the exclusive licensee in North America for SAVI Srl, an Italian wastewater treatment equipment company which is also owned by WAMGROUP. Enviro-Care and SAVI have a technology transfer agreement that allows Enviro-Care to manufacture SAVI equipment in the US.

Essroc’s headquarters are based in Nazareth in Pennsylvania.

Italcementi key player in universal expositions.

Italcementi already contributed with its research and know-how to the development of innovative building materials at 2010 Expo Shanghai, with the transparent cement used for the realization of the Italian pavilion, which is nowadays used for exhibitions and events dedicated to Italian design. «From the silver medal at the 1867 Universal Exposition in Paris, through the international success of the Italian Pavilion, symbol of the Shanghai Expo 2010, to the new biodynamic cement that characterizes` Palazzo Italia at the Milan Expo 2015: Italcementi is once again a key player in a Universal Exposition thanks to its innovative products “– said Carlo Pesenti, CEO of Italcementi Group - By providing materials for the realization of the architectural and engineering quality that our Country is able to express, our performance and solutions have contributed to the creation of the symbol buildings of several Expos. From Paris to Shanghai to Milan, Italian research wins again».

WAMGROUP acquires EnviroCare. Italy’s WAMGROUP has bought

Enviro-Care Co, a US headworks com-

WAMGROUP specializes in bulk solids handling and processing equipment.

Founded in Modena in 1969, WAMGROUP employs 2100 people at more than 60 locations in 40 countries. The company’s product range includes equipment for bulk solids handling and processing, dust filtration, wastewater treatment, vibration technology and renewable energy generation.

Ardian has agreed to acquire a ma-

jority stake in Italian auto parts maker AMP Group. The seller is Star Capital SGR S.p.A. Ardian, the independent private investment company, today announces that it has signed an agreement with Italian private equity firm, Star Capital SGR S.p.A, to acquire, together with the company management, a 100% stake in the Italian auto parts manufacturer and supplier, AMP Group (AMP). Headquartered in Albavilla (Como), AMP manufactures and sells car window regulators, mainly for the aftermarket sector. The management of AMP, led by CEO, Mr. Giovanni de Zio, remains in place.

ABOUT AMP GROUP. AMP Group has been created in 2012, after the acquiItaly-America Chamber of Commerce • www.italchamber.org

Business NEWS

16 sition of Algo Group (active since 1978) and Miraglio (active since 1955).

AMP Group is the market leader in Western Europe for engineering, manufacturing and marketing windows regulators, with handles & locks as a complementary business.

ABOUT ARDIAN. Ardian, founded in 1996 is an independent private investment company with assets of US$50bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world.

Estel selected by Apple to provide Antiseismic wALLS Avio, a major component builder for

Europe’s Ariane 5 rockets and majority owner of ELV S.p.A., which is building Europe’s Vega small-satellite launcher, will put Google satellite in orbit to take high resolution photographs.

The launch will take place in 2016 in Kourou, French Guyana.

Hublot is launching the new Big Bang UNICO Italia Independent, designed in collaboration with the Italian brand, of whom Lapo Elkann in President and Co-Founder. This collaboration has created a case featuring a brand new material, Texalium®, whose design is exclusive to te Swiss watchmaking brand.

Elkann’s company, Italia Independent, cofounded with Giovanni Accongiagioco and Andrea Tessitore, opens its first U.S. boutique among the prime real estate on SoHo’s Mercer Street.

Vicenza-based Estel lands contract at Cupertino for Apple’s new Campus Italy-America Chamber of Commerce • www.italchamber.org

After two years of competition, the Italian company was awarded a contract worth 100 million dollars to build the dividing walls for the structure.

The Italian company Estel producer of furnishing solutions, accessories and fittings for the home and office, has been selected by Apple for an order worth 100 million dollars to provide anti-seismic walls and accessories to he installed at the brand new Campus2 in Cupertino, California. The new Apple Campus 2, destined to become the new home of the American company, will be a kind of “spaceship”: it will be shaped like a large ring with a circumference of one and a half kilometers.

Estel, the company based in Vicenza with 350 employees and a turnover of around 60 million, was awarded the contract after two years of competition, by beating off international rival companies and emerging the winner from the “final match” against the last competitor of American origin. Work on building the earthquake—resistant walls will start in the summer of 2016, with completion a few months later.

The next stage will be the installation of the glass elements intended to divide up the enormous spaces inside the structure, covering a total of 280,000 square meters. The Vicenzabased company will take care of all the manufacturing and delivery side, while the actual installation work will be performed by local operators.

U.S. white goods group Whirpool, which is absorbing the operations of Italy’s Indesit, on July 2nd reached a preliminary accord with Italian trade unions not to lay off staff or close down plants in the country. Whirlpool has been in talks for more than two months after its original restructuring plan to cut almost 2,000 jobs in Italy angered both the unions and the government.

Italian Companies invest in Indiana. Two Italian auto suppliers have

announced plans to bring operations to Indiana. OMR Automotive says it will invest $10 million into a new operation in Speedway and create up to 60 jobs

by 2016. Also, Sirmax has announced it will locate its first North American production facility in Andreson. The company plans to pump $25 million into the project and add 50 jobs. Both announcements were made during Governor Mike Pence’s economic development mission at the North American International Auto Show in Detroit.

About OMR. Since 1919, Officine Meccaniche Rezzatesi have carried out mechanical work for the automotive industry, and today they are the main interlocutor for the leading producers of the sector, supplying them with components for engines, suspensions, gears, braking systems, chassis and integrated system.

The added value, acquired throughout the years, is shown by the great cooperation and feelings of trust thath have been established with clients, enabling the company to design and realize components in “co design” as well a high level of customization. For more information, visit http://www.omrautomotive.com/en/.

Dedagroup NA becomes majority investor in EPL, Inc. Italian software IT services company enters American market focusing on credit unions.

EPL, Inc., an established data-processing company serving credit unions nationwide, announced a strategic investment of equity in its business

by Dedagroup NA, the North America subsidiary of Dedagroup ICT Network (Dedagroup), an Italian-based software and IT services company. Dedagroup is part of a dynamic industrial group that generated revenue of approximately $3 billion in 2014.

Dedagroup NA’s investment in EPL marks Dedagroup’s entrance into the U.S. market. It follows the 2009 formation of Dedagroup’s Mexican subsidiary, Dedamex. Dedagroup serves grocery, financial services and fashion industries.

Dedagroup ICT Network is an Italian industrial group of associated companies, providing innovative solutions Trade With Italy

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Business NEWS

18 and expertise in the formation and communication technology market to companies, public administration and financial institutions.

While retaining its initial presence in the Trentino-Alto Adige region of Italy, the group has expanded over the years and now covers the entire country. In 2010, the first international Dedagroup ICT Network office was opened in Durango, Mexico, and new subsidiaries have recently been built in France and the United States.

Bonfiglioli USA to Expand Hebron, KY Operations. Company

to add production lines resulting in dozens of jobs for the Northern KY region.

Bonfiglioli USA will be expanding its Hebron, KY operations. The expansion will include the progressive addition of new production lines of planetary gearboxes for mobile machinery to support the construction, mining, agricultural and forestry industries. The expansion will create dozens of new jobs for the northern Kentucky region.

Manifattura Sigaro Toscano A Market

enters tough, competitive

Schulte, President of Bonfiglioli USA. “Most importantly we will be able to shorten the overall supply chain for our U.S. customers by reducing lead times, improving flexibility and being more responsive to our customer needs and to variations in demand for planetary gearboxes” Bonfiliglioli USA opened its first U.S. facility, a 10.000 square foot warehouse, in Lafayette, IN in 1999. With high quality and a wide variety of products, Bonfiglioli products quickly earned respect form the U.S. market.

With ongoing support from the Italian headquarters to expand operations to the current 80.000 square foot facility, Bonfiglioli USA continues to increase its market share in the U.S. gearbox industry, resulting in additional support from Bologna.

About Bonfiglioli. Bonfiglioli – a leading company in the global power transmission market – designs, manufactures and distributes a complete range of gearmotors, drive systems and planetary gearboxes to satisfy the most demanding needs for industrial processes, automation, mobile, wind and solar energy applications. With over 3000 employees worldwide, Bonfiglioli operates production plants and branches in 17 countries, offering tailored solutions with the most advanced technology for each product to ensure the highest level of quality and performance.

Carlo Barel di Sant’Albano, IACC

The Hebron production line will be the first line of manufacturing in the U.S for Bonfiglioli and will increase the Company’s annual capacity of planetary gearboxes by about 24.000 units in the first year to better serve the demand for these gearboxes in the U.S. market. With six different SKUs, the production line will create over 30 new warehouse, operations and assembly positions, with an additional 10 to 12 support positions, when at full capacity.

Business and Culture Award recipient, has been named Chairman of EMEA (Europe, Middle East, Africa) of the new Cushman & Wakefield

“There will be many benefits to our U.S. customer base once this production line is operational”, said Greg

Carlo Barel di Sant’Albano was honored by the Chamber in 2012 with the

Italy-America Chamber of Commerce • www.italchamber.org

Following the merger of Cushman and Wakefield and DTZ Carlo Barel di Sant’Albano has taken a senior global leadership role.

The new company operates under the iconic Cushman & Wakefiled brand, with revenue of over $5.5 billion, over 43,000 employees and manages more than 4 billion square feet globally.

Business and Culture Award.

Manifattura Sigaro Toscano of The Maccaferri Group, announced the acquisition of 80% of US Parodi Holdings LLP, manufacturer of cigars Avanti, Parodi and DeNobili Parodi Holdings was established in 1901 in New York by two brothers from Calabria, Anthony and Frank Suraci. They started manufacturing hand made cigars similar in shape and taste to Toscano, intended for Italian immigrants. The Parodi Holdings revenues in 2014 was over $ 5 million, with a production of about 11 million cigars, distributed in the United States.

By acquiring Parodi Holdings, Manifattura Sigaro Toscano enters in a tough, competitive and exciting market, the first in the world” stated Aurelio Regina, the President of Manifatture.

“This acquisition is a key step for the international expansion strategy of the Toscano cigar consistent with the history of the Group, the Toscano cigar is the proof of an Italy that wins,” says Gaetano Maccaferri, Vice President of Manifatture Sigaro Toscano and President of the Maccaferri Industrial Group.

Salini Impregilo brings water to Las Vegas. The severe drought that has always been afflicting the Colorado River Basin is coming to an end.

Salini Impregilo, through its “Vegas Tunnel Constructors” joint-venture with U.S. subsidiary S.A. Healy, has started filling the new Lake Mead tunnel with water, the latest milestone towards completing this record-breaking project awarded by the Southern Nevada Water Authority in 2008.

Southern Nevada - and especially Las Vegas –has risen to the challenge of the drought thanks to an innovative hydraulic system at Lake Mead, one of the largest artificial bodies of water in the world. The system will guarantee the supply of water to the city and surrounding areas for decades to come.

Formed by the Hoover Dam, the lake provides about 90 percent of the Trade With Italy

19 fresh water used by the Southern Nevada community of nearly two million people, which includes Las Vegas and Henderson.

A technically challenging and demanding project, it would not have been completed on budget and on time without the dedication and commitment of Salini Impregilo, S.A. Healy and the Southern Nevada Water Authority working together in true partnership.

Salini Impregilo is an Italian industrial group specialising in the construction of major, complex projects, a dynamic Italian company able to compete with leading global players.

Operating in over 50 countries with 34,400 employees, a turnover of around € 4.2 billion and a backlog of € 32.4 billion*, Salini Impregilo is a global player in the construction sector and the leading global infrastructure company in the water segment.

Hublot is launching the new Big Bang UNICO Italia Independent, designed in collaboration with the Italian brand, of whom Lapo Elkann in President and Co-Founder. This collaboration has created a case featuring a brand new material, Texalium®, whose design is exclusive to te Swiss watchmaking brand.

Elkann’s company, Italia Independent, cofounded with Giovanni Accongiagioco and Andrea Tessitore, opens its first U.S. boutique among the prime real estate on SoHo’s Mercer Street.

Italian Companies invest in Indiana. Two Italian auto suppliers have announced plans to bring operations to Indiana. OMR Automotive says it will invest $10 million into a new operation in Speedway and create up to 60 jobs by 2016. Also, Sirmax has announced it will locate its first North American production facility in Andreson. The company plans to pump $25 million into the project and add 50 jobs. Both announcements were made during Governor Mike Pence’s economic development mission at the North American International Trade With Italy

Auto Show in Detroit.

About OMR. Since 1919, Officine Meccaniche Rezzatesi have carried out mechanical work for the automotive industry, and today they are the main interlocutor for the leading producers of the sector, supplying them with components for engines, suspensions, gears, braking systems, chassis and integrated system.

The added value, acquired throughout the years, is shown by the great cooperation and feelings of trust thath have been established with clients, enabling the company to design and realize components in “co design” as well a high level of customization. For more information, visit http://www.omrautomotive.com/en/.

2a S.p.A, an Italian casting company, celebrated the grand opening for their facility located in Auburn.Members of the Ilotte

family traveled to Alabama from Italy to partake in the celebration, joining both employees and members of the Auburn community. 2a S.p.A. came to Auburn as a result of purchasing Aluminum Technology Schmid North America.

“Italy and the United States are connected by a long history, and Alabama hosts several operations from Italian based companies,” said Cav. David M. Gratta, honorary consul of Italy for the state of Alabama. “I congratulate the fine city of Auburn for the partnership with the well-recognized 2a Company from Turin.”

Gratta lives in Hattiesburg, Mississippi, and was born in Mobile as an Italian citizen. He represents Italy and holds the title of cavaliere, an Italian form of knighthood.

“With the strength of the automotive sector in Alabama, a connection to Northern Italy is an obvious match,” said Robert Smith of the Alabama Department of Commerce, in reference to Torino, Italy, as the birthplace of the Italian automotive industry.

Phillip Dunlap, Economic Development Director for the City of Auburn, was also at the event.

Dunlap praised the decision of 2a S.p.A. coming to Auburn.

“I think it’s a good opportunity,” Dunlap said.

“Our company has received excellent support from the City of Auburn and the State of Alabama making this investment possible,” said Carlo Ilotte, president of 2a S.p.A.

Provides US, Inc., A new heating,

2a S.p.A. started in the 1960s creating zippers and zipper machinery for the apparel industry. They have since moved that side of the business to China. The company began making large engine and transmission housing castings for the automotive and trucking industries, starting in the 1980s.

The Italy-based Provides invested $6.1 million to establish its first U.S. manufacturing operation, Provides US, Inc., which added 18 jobs. As the facility continues to ramp up production, 45 total jobs will be located at the Verona site, a release said.

Auburn Mayor Bill Ham, Jr. was present at the ceremony and spoke about the company’s arrival to Alabama.

“Today we celebrate the beginning of a new partnership between Auburn and the 2a company, which will retain 95 jobs in Auburn,” Ham said. “Not losing 95 jobs is like creating 95 jobs.”

During the ceremony the Italian flag was raised alongside the new 2a USA corporate flag.

ventilating and air conditioning company has opened its doors in Verona, the first U.S.-based plant for an Italian company.

Provides is co-located with Daikin Applied in Verona in a 40,000-square-foot space. Provides is a major supplier for Daikin.

Daikin had been having to import the heat exchangers from Provides overseas.

The Italian yacht builder Benetti, which earns about half its business from the United States, has opened a new U.S. headquarters on 17th Street in Fort Lauderdale

Italy-America Chamber of Commerce • www.italchamber.org

Business NEWS

20 The office is designed not only as a showroom, but also as a gathering place for owners and brokers. Its design is based on the look of Benetti’s showroom in Viareggio, Italy, with dark-tinted rosewood, ivory leather and bronze details. Floors are marble with teak inserts, and Yachtique showcases are crystal. Furnishings are from Italian designers including Stefano Ricci, Armani, Yachtline and more.

Fantinel company, founded in 1969 as a small farm, is now an internationally prestigious winery.

Two of Italy’s creative powerhouses, Italia Independent and

The Camden facility can produce upwards of 700,000 metric tons of slag cement annually. Essroc currently produces slag cement at its Picton, Ont., and San Juan, Puerto Rico, cement plants and at its slag grinding facility in Middlebranch, Ohio. With the addition of Camden, Essroc has a combined annual production capacity in excess of one million metric tons.

Holcim’s staff in Camden and Everett will join Essroc once the transaction completes.

famed Italian wine maker, Marco Fantinel, launch their newest project, The Independent Prosecco, in the U.S. TFantinel Winery is renowned for their prestigious vineyards and Friulian winemaking art.

“The Independent Prosecco combines Italia Independent’s intrinsic values, such as tradition, innovation, Italian style and vocation to global marketing, with Fantinel’s high oenological

55,000 square feet in New York City SICIS has

knowledge,” noted Lapo Elkann, Italia Independent co-founder and president.

Independent Prosecco is created using the finest Glera grapes from the Fantinel Vineyards in the Tauriano di Spilimbergo region of Italy. Once the prosecco is ready, it is then dressed

by Italia Independent. The houndstooth pattern label emulates some of the same style attributes that made Italia Independent’s latest collection so successful.

About Italia Independent Italia Independent,was founded by Lapo Elkann, Andrea Tessitore and Giovanni Accongiagioco.

About Fantinel Italy-America Chamber of Commerce • www.italchamber.org

Essroc Italcementi Group closed

on its acquisition of the Holcim slag cement grinding facility in Camden, NJ. The facility is now fully integrated into Essroc’s network. As part of the transaction, Essroc will also obtain Holcim’s cement terminal in Everett, Mass.

Slag cement, or ground granulated blast-furnace slag (GGBFS), is a cementitious material that is a byproduct of steel production. It works synergistically with portland cement to increase strength, reduce permeability, improve resistance to chemical attack and inhibit rebar corrosion. As a green building material, slag cement can be used in virtually all concrete applications.

ESSROC is member of the Italcementi Group of companies. Italcementi Group is a world leader in cement production with annual sales topping 4.1 billion euros and operations located on four continents.

SICIS The Art Factory Innovator and Manufacturer of decora-

tive design announces a real estate expansion plan that will increase the company’s footprint by more than 55,000 square feet in New York City.

This marks the first steps towards major evolution in the USA market.

SICIS has purchased a 50,000 square foot industrial building located in the South Bronx historically known for its artisan industry. Currently warehous-

ing over a half million square feet of inventory and becoming the logistical epicenter of the North American operations, with future plans to increase the dimensions and functions in the North American market.

About SICIS The Art Factory. Founded in 1989 with 500,000 square feet of covered manufacturing facility and headquartered in Ravenna Italy, is the world leader in mosaic art and design. The company manufactures, markets and sells its mosaics, lighting, furniture and accessories to both residential and trade customers through its retail salons and showrooms throughout the world.

Italy’s Newlat group bought

from Kraft Heinz a plant producing baby food based in Ozzano Taro (Parma).

The plant produces Plasmon, Dieterba and Nipiol baby food, in addition manufactures special foods for celiac people, Biaglut, and lower protein foods, Aproten.

Today Newlat is active with 11 production plants, of which 5 produce pasta and bakery products (Pasta Combattenti di Cremona, Corticella di Bologna, Guacci di Campobasso, Ciccarese di Bari and Pezzullo di Eboli), two mills and four dairy producing factories.

Pantex International S.p.A., a

hygiene materials producer primarily serving the global personal care market, is establishing its first U.S. operations – Pantex Americas, Inc. – in Greenville County. The $10.4 million investment is expected to create 45 new jobs in Simpsonville, S.C. over the next five years.

Established in 1987, Pantex first began to pursue a more global presence in 2007. The company’s new U.S. operations will help further this effort, complementing an existing production facility in the United Arab Emirates as well as the company’s Sulmona, Italy headquarters. Pantex’s international growth is allowing the firm better serve increasing customer demand.

Trade With Italy

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22

NEWS FROM THE CHAMBER

an update on recent Chamber events and initiatives, reports on new partnerships, upcoming projects and an update on newest members to join the IACC’s business network.

The Italy-America Chamber of Commerce is proud to include these companies among it’s members. The IACC represents the interests of companies that have, or are interested in establishing, business relations between the U.S. and Italy, as well as companies interested in expanding business contacts through our network of members.

The Chamber is accredited by the Italian Ministry for Foreign Trade, is a member of Assocamerestero, the Association of Italian Foreign Chambers of Commerce, and is affiliated with the U.S. Chamber of Commerce.

IACC’s New Members: Senior Sustaining Member

General Members

Boies, Schiller & Flexner LLP,

DSV Air & Sea, Inc., Paolo Gandolfi

N icholas Gravante, Esq.

Bellucci Napoli, Nedo Bellucci

Eugene Nardelli

SI – Log, Francesco Santori

Sustaining Member UBI Banca, S.p.A., Andrea De Benedittis

Worldwide Express NYC, Inc., Christopher Ragucci Tom Ford Retail Daszkowski, Tompkins, Weg & Carbonella CPA, P.C. Matei LLC Castleton Commodities International Design Group Italia

Italy-America Chamber of Commerce • www.italchamber.org

Trade With Italy

23

NEWS PROVIDED BY DR. GIULIO VIOLA CHAMBER’S REPRESENTATIVE IN ITALY

L’AMERICANA DOVER ACQUISTA GLI INCHIOSTRI JK GROUP

L’inchiostro italiano finisce ai colossi di Wall Street. Jk Group, leader mondiale nella produzione e vendita dei inchiostri per la stampa digitale, è stato ceduto dai fondi di private equity Wise e Alcedo (detentori del 72% del capitale sociale in maniera paritetica) alla multinazionale americana Dover attiva nel settore della stampa digitale.

Dover ha raggiunto il controllo del 100% del capitale, acquisendo le restanti quote di minoranza dai manager del gruppo.

JK Group è nata dall’integrazione tra Kiian Digital J-Teck e Sawgrass Industrial, tre leader riconosciuti a livello mondiale nel settore degli inchiostri per la stampa digitale.

Alcedo e Wise hanno acquisito Kiian nel dicembre 2012 quando l’azienda comasca fatturava circa 49 milioni di euro e realizzava un margine operativo lordo di 8,6 milioni di euro. JK Goup ha quindi conquistato nel tempo la leadership mondiale nella nicchia degli inchiostri per la stampa digitale, anche tramite acquisizioni: le attività del proprio distributore statunitense, Tw Graphics, quindi J-Teck3, infine, nel luglio 2015, il business Industrial di Sawgrass Technologies, società americana con operations europee basate in Svizzera.

Oggi JK Group è un gruppo con un fatturato 2015 di 70 milioni di euro con un’incidenza dell’export sui ricavi totali cresciuto dal 75% al 90%.

Il 100% del capitale di JK Group è stato valutato dall’americana Dover 346,5 milioni di euro ovvero circa 10,3 volte il margine operativo lordo 2015.

Trade With Italy

NEWLAT RILEVA STABILIMENTO DALL’AMERICANA HEINZ Mentre gli astri nascenti del food Made in Italy finiscono nel perimetro delle multinazionali, torna italiano un “pezzo” di Plasmon, azienda che dal 1902 è sinonimo di alimenti per l’infanzia e negli anni sessanta è entrata nell’orbita di Heinz. La società americana, fusasi a marzo scorso con Kraft, cede lo stabilimento emiliano di Ozzano Taro alla Newlat dell’imprenditore salernitano Angelo Mastrolia che grazie all’acquisizione supera con il fatturato di gruppo la soglia dei 400 milioni.

Kraft Heinz e Newlat Group hanno siglato l’intesa che sancisce il passaggio di consegne sullo stabilimento in provincia di Parma, attivo nella produzione dei celebri biscotti Plasmon ma anche di pasta, farine, olio e pollo liofilizzato, per un totale di 170 dipendenti. Oltre a quelli di Plasmon, dal sito escono prodotti contrassegnati dai marchi Nipiol, Bialgut e Aproten. Il valore degli asset coinvolti nell’operazione è di 30 milioni.

Newlat prevede investimenti per oltre 20 milioni nei prossimi cinque anni sul sito. Rilevando Ozzano Taro, la società fa il suo debutto nel segmento baby food che precedentemente non presidiava. Kraft Heinz commercializzerà i prodotti dello stabilimento e garantirà di conseguenza, nel medio-lungo periodo, sostanziose commesse al sito.

Prosegue lo shopping del gruppo, realtà industriale che ha nel proprio portafoglio brand tra cui Polenghi Lombardo, Giglio, Optimus, Ala, Matese e Torre in Pietra e produce pasta e fette biscottate a marchio Buitoni.

Con l’ultima operazione, il numero dei

dipendenti del gruppo supera le mille unità, il fatturato si spinge al di sopra della soglia dei 400 milioni.

SALINI IMPREGILO SCOMMETTE SUGLI USA Salini Impregilo ha annunciato l’acquisto per 400 milioni di Lane Industries, il maggiore costruttore di autostrade e produttore privato di asfalto negli Usa, dando vita a un gigante da 6 miliardi di ricavi annui.

Il general contractor finanzierà l’acquisizione con liquidità, linee di credito esistenti e nuovi finanziamenti disponibili al closing: messa sul tavolo anche parte della forte plusvalenza legata alla vendita della quota nella brasiliana Ecorodovias. Con Lane il segmento delle costruzioni Usa diventerà un mercato fondamentale per Salini Impregilo, rappresentando circa il 21% dei ricavi complessivi. Il Paese intende focalizzarsi sulla costruzione delle infrastrutture attraverso grandi investimenti. Il riferimento è al parere favorevole della Camera dei deputati a un investimento nei prossimi anni di oltre 300 miliardi di dollari per il ripristino di strade e ponti, mentre in Texas qualche giorno prima si è votato a favore di una proposta per riorientare 2,5 miliardi, provenienti da entrate fiscali, verso investimenti per l’espansione della rete autostradale. Negli ultimi mesi Salini Impregilo ha completato i lavori principali per la metropolitana di San Francisco e il tunnel sotto Lake Mead per l’approvvigionamento idrico a Las Vegas ed è impegnata in altre commesse a Cleveland, Washington e Long Beach. In concomitanza con l’annuncio dell’acquisizione negli Usa, Salini Impregilo ha presentato conti in crescita con ricavi in aumento dell’8,4%.

Italy-America Chamber of Commerce • www.italchamber.org

news From the Chamber 24

INTESA LUXOTTICA CON MACY’S

Cinquecento negozi LesCrafters nei grandi magazzini Macy’s negli Usa nei prossimi tre anni. Luxottica spinge sull’acceleratore nell’espansione della catena di occhiali da vista, guadagnando l’esclusiva per LesCrafters ad operare all’interno del department store americano, che può contare su 35 milioni di clienti. L’intesa fa seguito all’esperienza positiva con la catena Sunglass Hut, sempre del gruppo italiano, e Macy’s, che ha visto l’apertura di 670 negozi all’interno dei grandi magazzini. Una partnership che ha portato la controllata di Luxottica a triplicare in sei anni il giro d’affari nel segmento occhiali da sole. La collaborazione di successo che lega Macy’s e Luxottica nasce dalla comune volontà di offrire ai clienti i prodotti della migliore qualità, dalla passione condivisa per la moda e lo stile, e dalla gestione di un ampio portafoglio marchi capace di incontrare i gusti dei consumatori.

Il retail ottico in Nord America ha un grande potenziale di crescita. Il primo negozio sarà inaugurato in aprile e per fine anno sono previste un centinaio di aperture. I punti vendita avranno un design sviluppato per Macy’s e ospiteranno un’ampia gamma di occhiali da vista dei marchi del gruppo: da RayBan a Oakley, da Prada ad Armani.

OBIETTIVO USA PER PANTOFOLA D’ORO Si tratta di un anno impor-

tante: nel 2016, infatti, l’azienda marchigiana compie 130 anni. E pare avere tutta l’intenzione di arrivare alle soglie di questo anniversario in piena forma: a ottobre l’azienda ha aperto a New York, a Soho, il primo monomarca “custom made”. Dopo aver lanciato un portale e-commerce vogliono debuttare nel retail con un negozio sui generis, nel quale il cliente possa costruire la propria scarpa.

Pantofola D’Oro è stata fondata nel 1886 ad Ascoli Piceno dove continua a produrre calzature rigorosamente made in Italy. Dopo aver debuttato a fine Ottocento nel mondo dello sport - prima il wrestling, poi il ciclismo e il calcio - si è sviluppata in modo organico nel segmento lifestyle puntando su qualità dei materiali, design accattiItaly-America Chamber of Commerce • www.italchamber.org

vante e artigianalità tutta italiana.

Pantofola D’Oro produce ogni anno 35mila scarpe da calcio, realizzate in una fabbrica a gestione diretta.

L’accordo con la piattaforma online Pro Direct Soccer ha portato il business ad assorbire il 10% del giro d’affari. Il fatturato di Pantofola D’Oro è assorbito per circa il 50% da una licenza per la produzione di sneaker e per restante 40% dal segmento lifestyle: producono 55mila paia all’anno appoggiandosi ad una rete manifatturiera che ha sede nelle Marche.

ALI GROUP FA SHOPPING NEGLI USA La Ali Group, 2,1 miliardi di ricavi, con 76 marchi tra cui spiccano in Italia la Carpignani e le sue macchine per i gelati e la Rancilio nel caffè espresso.

Ma Ali si confronta ormai da tempo con big internazionali come Meiko, Hobart e Manitowoc, dopo l’intensa campagna di shopping che ha portato sotto le insegne della multinazionale brand come Champion, Beverage-air, Aladdin Temp-Rite ed Edlund.

Hanno fatto incetta in Europa, ma ora il focus è sugli Stati Uniti, con la Ali North America, sede operativa a Vernon Hills vicino a Chicago, da dove governa i vasti interessi nel Paese che fin qui valgono oltre il 30% del fatturato. Adesso il nuovo passo, con un’acquisizione che porterà la realtà italiana da 1,7 a 2,1 miliardi di ricavi.

L’occasione di shopping l’ha trovata a Ferguson nel Missouri, dove sorge il quartier generale del gruppo Emerson electric manufacturing, 24 miliardi di dollari di fatturato, una conglomerata nel campo della automazione industriale, motori e collegamenti elettrici.

Adesso si appresta a cedere ad Ali Group la InterMetro, fatturato poco sotto 400 milioni nel settore dello storage, ossia nei sistemi conservazione e trasporto di alimenti per ristoranti, comunità, mense, scuole, fabbriche e per la grande distribuzione. In pratica, l’anello mancante al portafoglio prodotti che alla Ali va dai sistemi di refrigerazione (con le attività di Polaris, Victory, Friulinox) ai forni (Belshaw Adamatic) e le macchine per la produzione di ghiaccio che l’ha vista protagonista tre anni fa dell’ultima

campagna di shopping in Nordamerica con l’acquisto della Scotsman Ice Industries, il più grande produttore al mondo del settore.

Sale così a 77 il numero di marchi in portafoglio e a 10mila il numero di addetti impegnati in 58 stabilimenti più le sedi commerciali. In pratica Ali sale ai vertici di un’industria che vale circa 240 miliardi.

PIZZAROTTI ACCELERA A NEW YORK Pizzarotti cambia strategia di

crescita e punta sull’estero: nel 2015 il gruppo ha acquistato nuove commesse oltre frontiera per quasi un miliardo.

Pizzarotti - quarta nella classifica delle grandi imprese di costruzione italiane - era stato fino ad oggi l’unico fra i grandi contractor a mantenere una quota nettamente prevalente di fatturato nazionale sul totale. Negli ultimi dieci anni, il fatturato annuo medio all’estero era stato di 200 milioni di euro, salito a 240 nell’ultimo triennio: la quota era attestata fra il 20 e il 24 per cento.

Ora il cambio di passo. Le acquisizioni realizzate nel 2015 consentiranno all’impresa quasi di triplicare il fatturato medio nei prossimi anni rispetto a questi valori storici: rispetto ai 325 milioni previsti per il 2015, che in questo senso è un vero e proprio anno di transizione, per il triennio 2016-2018 si attende un valore dell’ordine di 600 milioni annui medi.

Peculiarità dell’espansione all’estero di Pizzarotti è quella di aver scelto alcune aree in cui espandersi attraverso partnership e joint venture con soci locali che possano portare valore aggiunto.

Questo sforzo si concentra su quattro aree geografiche: Stati Uniti, con la concentrazione su New York; Principato di Monaco e Francia; Est Europa a partire dalla Russia.

A New York Pizzarotti sta realizzando in Broad Street un grattacielo di 70 piani e 300 metri che sarà il secondo per altezza del Financial district. Un valore di costruzione di 200 milioni ma l’impresa partecipa anche alla promozione immobiliare con partner storici e il developper newyorkese Trade With Italy

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CLIFTON BUDD & DEMARIA, LLP The oldest Labor Law Firm in the United States represents employers exclusively with regard to labor disputes with unions and advises on compliance with all federal, state and local laws governing the employment relationship. Its law practice concentrates on the defense of law suits brought by employees against the companies that employ them.

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Alfred T. DeMaria, Esq.

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Madison Equities.

Sempre a New York contratto di 70 milioni per la realizzazione della torre One Seaport e il complesso prestigioso del Jardim nel distretto di Chelsea per un valore di 60 milioni.

MAXI-POLO FEDEX A MALPENSA

Gli americani scommettono sull’Italia e su Malpensa. Fedex, la più grande compagnia di trasporto espresso al mondo, ha avviato il cantiere per la costruzione della nuova base operativa collocata nel cuore del più importante aeroporto del Nord.

Con un totale di oltre 35mila metri quadrati totali, la nuova struttura triplicherà l’attuale base di Fedex a Malpensa e diventerà il terzo snodo più grande d’Europa, dopo quelli di Parigi e Colonia, al servizio del traffico merci da e per l’Italia. La nuova struttura sarà collocata all’interno della cargo city di Malpensa, verrà ultimata entro ottobre 2016 e richiederà un investimento da parte di Sea, la società che gestisce Malpensa, di 15milioni di euro.

L’Italia è un grande Paese esportatore e la Lombardia, in particolare, è un territorio votato alla produzione di merci di alta qualità.

FedEx è il quarto maggior cliente dell’aeroporto di Malpensa per merci trasportate ed è il primo corriere collegato direttamente con gli Stati Uniti Trade With Italy

grazie al volo diretto Milano MalpensaMemphis. L’unico volo espresso su questa rotta in grado di garantire i più rapidi tempi di transito dal Nord Italia agli Stati Uniti.

L’espansione della cargo city, di cui il magazzino FedEx è parte, consentirà il raddoppio della capacità merci dello scalo, affiancando ai due magazzini già esistenti di 20mila metri quadrati, la costruzione di tre nuovi magazzini di oltre 15mila metri quadrati l’uno.

Attualmente a Malpensa vengono movimentate circa 500mila tonnellate all’anno e grazie ai nuovi investimenti, entro un paio d’anni, Malpensa avrà una capacità di movimentazione di circa un milione di tonnellate all’anno.

Con la nuova struttura FedEx sarà in grado di gestire 20mila spedizioni al giorno rispetto alle 16mila attuali, 44 voli da e per Malpensa.

LA CERAMICA ITALIANA CRESCE NEGLI USA E’ grazie all’estero che

la ceramica italiana - soprattutto piastrelle, oltre che sanitari, stoviglie e materiali refrattari - ha potuto reggere la crisi.

Anche gli ultimi dati confermano la vocazione all’export. I ricavi nei primi sei mesi del 2015 dalle vendite all’estero ammontano a oltre 2,2 miliardi, con una crescita in valore di quasi il 5% rispetto ai primi sei mesi del 2014. L’Europa è la principale area

di destinazione e Francia e Germania sono i mercati storici e di maggiori dimensioni.

Dopo Francia e Germania, il terzo mercato estero più sviluppato sono gli Stati Uniti, che segnano una crescita a volumi di oltre 8%, ma grazie al cambio euro dollaro il fatturato è cresciuto del 32,4%.

E negli Usa la ceramica italiana non si limita a esportare. Negli anni, tra gli Stati del Kentucky e del Tennessee è nata una sorta di “distretto” parallelo a quello emiliano. E’ la strategia della internazionalizzazione produttiva che punta ad aprire fabbriche nei Paesi maggiori clienti, vicino alla disponibilità delle materie prime e al consumo, per abbattere i costi di trasporto e nel caso degli Stati Uniti - anche i dazi all’import.

Nel distretto Usa sono presenti a livello produttivo quattro aziende italiane, Florim, Panaria, Del Conca e Granitifiandre, mentre il Gruppo Concorde di Spezzano di Fiorano (Modena) ha avviato la costruzione di un impianto.

A Clarksville, nel Tennessee, la Florim ha investito 35 milioni di euro dal 2013 per ristrutturare le impiantistiche di produzione. Per quest’anno, Confindustria stima una produzione all’estero delle aziende italiane tra 85 e 90 milioni di metri quadrati di ceramica (+10-15%) e in Italia tra i 390 e i 395 milioni di metri quadrati (+2,5-3%).

Italy-America Chamber of Commerce • www.italchamber.org

Italy America-Chamber of commerce

Gala Dinner 2015 plaza HoteL New York

On November 6th the Chamber celebrated its 128th anniversary at the splendid Grand Ballroom of the renovated Plaza Hotel.

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n tribute to the Italy-America Chamber of Commerce continuity and growth the Chamber had the privilege to present seven Twenty- Five -Year membership awards and one Fifty-year membership award to the following members:

Celebrating the Half Century Mark: Foa and Son Corporation Celebrating the Quarter Century Mark: Bernard Herold and Co.; Cantoni ITC USA, Inc.; Central Holidays; D. Grosser and Associates; Lavazza Premium Coffee Corp.; Telecom Italia Group Sparkle of N.A.; Valentino USA, Inc. President Milani acknowledged Senior Sustaining Member Claudia Vitelli whose company Vitelli

Trade With Italy

Foods LLC is the oldest member in activity, celebrating this year its 115th membership anniversary.

Minister Natalia Quintavalle was honored with the 2015 IACC Business and Culture Award in recognition of her continuous commitment to strengthening the “Sistema Italia” and her vital role in promotion of Italian culture and business.

The guests were entertained by Grammy nominated violinist Robert McDuffie, violinist Yoon Kwon The Chamber thanks those members that through their sponsorship have been instrumental in making the gala a most successful event: Buccellati, Arvero Limoncello, Mionetto USA, Sassaia (Azienda Vitivinicola Pier Carlo Bergaglio), Urbani Truffle USA and Vias Imports.

Italy-America Chamber of Commerce • www.italchamber.org

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IACC 2105 Gala Dinner

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Italy-America Chamber of Commerce • www.italchamber.org

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Italy-America Chamber of Commerce • www.italchamber.org

IACC 2105 Gala Dinner

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Italy-America Chamber of Commerce • www.italchamber.org

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Italy-America Chamber of Commerce • www.italchamber.org

new Secretary General Federico Tozzi

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hen I first visited the US in 1996, right after my college graduation, I never would have imagined that I would still be here, 20 years later. The goal of my trip was to spend a few months improving my English and gaining some business experience to then return to Italy and begin my career in the insurance business.

During my last few months of college, I read a publication titled “The Business Atlas� which was my initial introduction to the Italian Chambers of Commerce system that operates under the umbrella of Assocamerestero, the Association of the Italian Chambers of Commerce abroad.

This was a network I was previously completely unfamiliar with, but I was immediately fascinated by these organizations and their role in supporting the expansion of Italian businesses around the world. Contrary to many other government organizations with similar missions, the Chambers of Commerce were able to establish and maintain a strong local presence, in many cases, for hundreds of years. This was my initial motivation in applying to the Italy-America of Commerce (IACC) as an intern in 1996.

During my interview I met Franco De Angelis, the Secretary General, and I was offered a three-month internship to work on the US section of the Business Atlas, the same publication that had sparked my interest in the Italian Chambers of Commerce Abroad! At that time, the legendary president of Assocamerestero, Piero Bassetti, was concentrating all efforts on building a strong network of Italian Chambers abroad, allowing the individual organizations to evolve from local entities and become collectively part of an international organization. The IACC needed someone to help coordinate this project.

In March 1997, I was hired at the IACC with the primary tasks of increasing business activities from Italy and coordinating all initiatives with Assocamerestero and other Chambers in the US, Canada and Mexico.

Over the past 20 years, the role of the Chambers has changed dramatically and I feel grateful to have been part of this process that has been crucial to the evolvement of the organization. Today, the Chambers play an imperative role in helping small and medium size Italian enterprises Trade With Italy

in their search for new business opportunities and strategic markets and, I believe, their relevancy will continue to grow in the years to come. The IACC, along with the other Chambers world-wide, is a private organization, receives very minimal government support, and has developed a series of highly specialized services for both members and non-members, along with a variety of local events and activities.

As Secretary General, I intend to continue on this path, ensuring that both the relevancy and the profitability of the IACC continue to grow by establishing new and lasting relationships with other local and international organizations, developing value-added services for members and non-members, and expanding the membership base by bringing more visibility and business to our members.

I am very honored to have the opportunity to lead such a prestigious organization and I would like to thank, the IACC president and board for their trust, Franco De Angelis, Secretary General Emeritus for his support, and for sharing his vast network of contacts and his experience with me, my previous colleagues, Carlo Santoro and Amie Servino, and the current ones, Alice Biagini and Allison Errante, for their work, dedication and friendship.

Italy-America Chamber of Commerce • www.italchamber.org

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Sluggish investment is really just a commodity story

By Dr. Harm Bandholz

Sluggish investment is really just a commodity story

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he recovery in the US has, once again, been primarily driven by private households. Over the past three years, consumption expenditures contributed no less than 80% of total GDP growth. Spending by businesses, on the other hand, has not only been very benign, it even lost further momentum in the course of this year. Over the past four quarters, real fixed investment in equipment merely edged up by 2.4%, while real fixed investment in structures even contracted by 3.6%.

The list of possible explanations for this weakness is long. It includes headwinds from the global economy, the strong US dollar, weak profits and dim sales prospects, as well as lower commodity prices. From a theoretical perspective, there is definitely something to all of these factors. But a closer empirical inspection of the data reveals that there is really only a single culprit: the plunge in commodity prices.

As a result of sharply lower energy prices, investment in mining and drilling activities has plummeted.

That includes mining exploration and new oil and gas wells, as well as mining and oilfield equipment.

In addition, the sharp decline in prices for agricultural commodities has triggered a plunge in spending Trade With Italy

for agricultural machinery and equipment. Finally, weak activity in energy and agricultural sectors spilled over to investment in transportation (notably railroad) equipment. If we strip out these commodity sensitive components, which only account for 8% of total business fixed investment, we find that real investment activity has actually gained some momentum over the past several quarters. Real business fixed investment outside of the commodity sectors has been rising by no less than 7% between 4Q14 and 4Q15. That is a tad more than it did between 2003 and 2005, i.e. the height of the housing boom.

To be sure, these commodity sensitive sectors are part of the economy, and the described weakness did weigh on total growth over the past several quarters. However, it is important to understand the cause of the problem. And the fact that it seems to be primarily, not to say entirely, the drop in commodity prices should bode well for the medium-term outlook. As prices stabilize – even at these low levels – the negative impact on investment activity should fade, which means that investment spending is bound to regain some momentum throughout the course of the year.

Dr. Harm Bandholz, CFA Chief US Economist UniCredit Research Italy-America Chamber of Commerce • www.italchamber.org

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by John J. Jablonski and Jeffrey L. Kingsley

Avoiding or Reducing Environmental Enforcement Headaches

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ompanies in a broad range of industries face ever-increasing scrutiny from the U.S. Environmental Protection Agency (EPA) and state departments of environmental conservation, and all signs point to growth in that trend.

President Obama’s FY 2016 budget proposed bringing EPA funding for “vigorous and targeted civil and criminal enforcement” to $804 million—an increase of $66 million from what was enacted the previous fiscal year.

The agency’s compliance efforts will be bolstered by the incorporation of new technologies to make its efforts sharper and more efficient. These include upgrades to information technology systems as well as utilization of advanced pollutant detection technologies.

In FY 2014, the EPA conducted close to 16,000 inspections and evaluations, initiated more than 2,200 civil judicial and administrative cases, and obtained nearly $100 million in federal administrative and civil judicial penalties. Criminal defendants were sentenced to a total of 155 years in prison and paid $80 million worth of criminal fines, restitution, and court-ordered projects in FY 2014.

While the civil and criminal risks may be potentially disastrous, there are both proactive and responsive steps business owners and their counsel can take to limit potential exposure in environmental enforcement actions.

Inspections and Reporting Requirements Those targeted by inspection requests should not refuse to comply unless they have a very compelling reason for doing so. A refusal flags the business as non-cooperative and only encourages further EPA attention. Further, a refusal to comply with EPA inspection requests can trigger enforcement penalties on its own. For example, the Resource Conservation and Recovery Act (RCRA) provides for the imposition of penalties up to $37,500 per day for failure to comply with EPA orders or requests.

Likewise, failure to comply with mandatory EPA reporting requirements—either before or after a business is under investigation—can expose an entity to potential penalties. For example, one company’s failure to promptly submit accurate data about its production Trade With Italy

37 and use of chemical substances as required by the Toxic Substances Control Act (TSCA) resulted in its incurring a $55,901 civil penalty in 2012. Notably, this penalty was levied despite the fact that there was no evidence indicating the company’s failure to comply with the reporting requirements had caused any real harm.

Defenses for Civil Enforcements Most environmental statutes come with a strict liability threshold—in other words, if you committed a violation, there’s a very slim chance you’ll get away with it upon discovery. However, there are defenses and tactics that can be used in limited circumstances to help shield a potential violator from some liability.

EPA regulations have created an affirmative defense of “upset”—i.e., that a violator’s temporary noncompliance was permissible as a result of certain uncontrollable factors. Invoking this exception, however, requires certain reporting requirements, and some factors related to facility design and maintenance may act to prevent a party from invoking an upset defense.

If your organization may not be the only one responsible for an environmental violation, Rule 14 of the Federal Rules of Civil Procedure and state procedural laws allow defendants to “implead” entities that may ultimately owe them contribution. Additionally, environmental violations can be subject to a concept known as “over-filing”—i.e., where the federal government files an enforcement action against an entity despite the fact that the entity is already undergoing state enforcement proceedings. In the event that your business is attempting to settle an action against it is important to include all of the relevant stakeholders in the settlement process. Otherwise, you face the possibility of defending a second action predicated on the same violation.

Criminal Investigations There are 19 pollution crime laws, and 26 wildlife crime laws, that include a criminal enforcement mechanism.

A criminal enforcement action pursuant to one of these laws may be triggered by a variety of events, such as a major release (e.g., from a spill, explosion, or fire), a whistleblower, or a permitting dispute or protracted civil enforcement matter. In addition, the government may find a basis for criminal prosecuItaly-America Chamber of Commerce • www.italchamber.org

tion beyond the substantive environmental violations that provide for the same, such as false statements, falsification of inspection reports, and obstruction of justice.

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As always, the best preparation for any criminal investigation is compliance. With this principle in mind, it is advisable to engage in self-audit programs designed to uncover compliance issues “in house,” so they might be dealt with internally before an external investigation is commenced. Some law firms provide compliance audit services, which not only reduce the potential for environmental violations, but tend also to reduce penalties when violations are found.

Of course, even the best self-audit program cannot guarantee 100 percent compliance. Violations are bound to take place, and when they do it is imperative that you have a response strategy in place. Your response strategy should include preparation of response plans and notifications required by statute, such as those required under the Clean Water Act (CWA) and RCRA. In addition, it should contemplate steps intended to prevent enforcement escalation such as cooperation with the enforcement investigation with special attention to potential defenses, retaining consultants respected by the agency to prepare a remediation plan, and correction of continuing violations.

It is critical to consult with environmental legal counsel as early as possible in the process—early action can make a significant difference from the outset in the dissemination of Upjohn warnings (required notice to directors, officers, and others that counsel represents the corporation and not the individuals), formation of indemnification and joint defense agreements, preservation of evidence, voluntary disclosures, and the proper handling of whistleblowers.

It is also necessary to ensure that all administrative remedies are exhausted and file declaratory judgment actions and/or seek pre-enforcement administrative review of compliance orders where necessary.

Time is an especially critical factor in developing potential defenses with respect to criminal enforcement actions. Although environmental statutes generally impose strict liability for civil violations, criminal violations still require proof of mens rea. For example, to obtain a felony conviction under the CWA, the government must prove a knowing violation, and the defendant’s knowledge must be proven with respect to each and every element of the offense. This means that a mistake of fact which negates the existence of the necessary criminal intent constitutes a viable defense.

Additionally, if defense counsel are consulted early on in the investigation, they will be in a better position to determine whether any regulatory of statutory Italy-America Chamber of Commerce • www.italchamber.org

exemptions apply. For example, the CWA contains numerous exemptions to its Section 404 permitting program that, if applicable, would prevent criminal prosecution under the act. Environmental prosecutions are often scientifically complex, thus expert assistance during the discovery process is crucial. The defendant will be in the best position to challenge the government’s scientific evidence and methodology if it consults with a competent expert from the outset and throughout the investigative process.

Limiting Penalties Through Self-Reporting As noted above, companies can be rewarded for showing diligence in environmental risk control and honestly reporting when potential environmental violations have occurred. Any potential penalty reduction depends, of course, on a number of conditions set forth by the EPA. But the incentives are such that some entities are working with qualified counsel to perform a critical self-evaluation and disclosure to the EPA in exchange for waivers of the penalties the EPA would have assessed had it performed an inspection and discovered the violations itself. By way of example, one institution that worked with a member of our team faced over $11 million in potential penalties that were waived by the EPA.

Prevention: The Best Medicine In the end, the best defense to an environmental enforcement action is an early defense. That begins with implementing an active, well-developed environmental compliance program well before any inspection or incident actually occurs. Elements of such a plan include: management accountability for compliance and a well-trained staff; clearly outlined compliance, self-inspection, monitoring, and reporting procedures; plans for investigating and addressing environmental incidents; and periodic compliance auditing with available corrective measures to correct existing problems.

With the right plan in place, and the appropriate response when an inspection or incident occurs, companies can drastically reduce the liability headache brought on by an environmental enforcement action.

An earlier version of this article originally appeared in the Spring/Summer 2013 issue of USLAW Magazine. Reprinted with permission.

John J. Jablonski is a partner in the Buffalo office of Goldberg Segalla and Chair of the firm’s Environmental Practice Group. He has extensive experience defending large companies in toxic exposure cases and advising on compliance with various federal and state environmental regulations.

Jeffrey L. Kingsley, also a Goldberg Segalla partner in Buffalo, represents clients in property contamination and other environmental cases. His experience also includes assisting the Department of Justice’s Environmental Enforcement Division in drafting its position relative to compliance-related issues involving coal facilities Trade With Italy

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OMNIA Announces Alexander Comini as New President

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MNIA Industries, member of the Italy-American Chamber of Commerce since 1971, announces that its Board of Directors has named Mr. Alexander Comini as the company’s President. He succeeds Alberto Comini, who founded OMNIA in 1964, and who will now hold the position of Chairman. OMNIA is a leading brand of high-end residential locksets and architectural hardware, sold internationally.

Alexander (Alex), one of the co-owners of OMNIA and presently a Vice President, joined the company 23 years ago. Earning a degree in industrial arts, Alex graduated from University of New Hampshire at Keene and spent the next several years working in advertising. With the experience he gained, Alex brought a unique set of skills to OMNIA, focusing on the marketing of the line to the specifier and

high-end locksets architectural residential

tions, to name a few. Alex is instrumental in supervising the selection and production of hardware specified for many important installations, such as high profile buildings in New York, Miami, Chicago, Las Vegas, Macau, etc.

In his new position as President, Alex will continue to develop new product lines, create strategies to enhance brand distinction, strengthen the existing market structure, oversee manufacturing and quality control, and build upon the original foundation for long term growth. As President, Alex Comini ensures the continued progression of OMNIA’s legacy established more than 50 years ago

and hardware

architectural communities. Currently, he concentrates his efforts in various areas of the business, from manufacturing to working with the customer base of showrooms and distributors. In recent years, he has designed and been responsible for the manufacturing of a number of product lines which have been successfully added to the OMNIA selections: Prodigy, Ultima, Classico and Tradi-

Trade With Italy

Italy-America Chamber of Commerce • www.italchamber.org

by Alfred DeMAria

What Chamber Members should do now to Prepare for the CHange in the Costly, Upcoming Wage and Hour Overtime Regulations

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nticipated to arrive in mid-2016, are the U.S. Department of Labor’s proposed amendments to the white collar exemptions to the Fair Labor Standards Act (FLSA) that are expected to dramatically increase employer’s wage costs even for the smallest employers.

Some of the proposed wage and hour law changes are: Increasing the minimum pay for exempt employees to $970 a week or $50,440.00 a year.

Increasing the annual compensation needed to meet the “highly compensated” employee exemption to $122,148.00 a year.

Automatically updating the above compensation salary thresholds in accordance with the cost of living.

Penalties for misclassification include back wages, double damages, attorney’s fees for the employees involved and costs.

What can you do now to Prepare?

Collect and Analyze Salary and Pay Information Identify the number of employees that are being paid at salaries between the current minimum of $23,360.00 and the new minimum of $50,440.00. ($600.00 a week, $31,200.00 a year in N.Y.S.) Review the impact of bonuses, if you pay them, on overall compensation as well.

Identify the number of employees who are currently being paid above the new threshold to see if those salaries might need to be increased for purposes of fairness and to avoid salary compression.

Collect and Analyze Information Regarding Job Duties and Work Hours Develop a good understanding of the work your currently exempt employees actually perform both in job descriptions and in day to day reality. A job description divorced from the reality of the job duties exempt employees actually perform will not give you a true picture as to how to comply. Also, try to obtain valid information on the approximate number of hours exempt employees are working on a weekly basis.

Consider Potential Changes to Meet the Expected Amendments Trade With Italy

Among possible changes could be: Increase the salaries of exempt employees to the new minimum.

Reduce or eliminate bonuses for those exempt employees whose salaries and bonuses may meet the new minimum and increase their salaries by those reduced bonus amounts.

Reclassify exempt employees and pay them hourly.

Reclassify exempt employees and change their compensation structure to pay them on a “fluctuating workweek” basis, where practical.

Change job duties of managers, as necessary, so that they will meet the new duties test as exempt employees.

Change timekeeping practices, as needed, if managers are reclassified as hourly, not exempt employees.

With the steps listed above, Chamber members can begin the process of developing models as to the potential costs of the new rules and different ways to respond to the proposed regulations in order to minimize their anticipated major cost impacts and/ or potential liability under the new regulations.

Headache Alert The White House announced that the Equal Employment Opportunity Commission (“EEOC”) will issue regulations requiring employers with over one-hundred employees to submit pay data to assist the EEOC in identifying possible workplace pay discrimination. This is a clear signal to all large Chamber member employers to carefully review and analyze their pay practices NOW to ensure that they can defend against the pay inequity claims based on race, ethnicity and gender that are sure to follow the new regulations.

Alfred T. DeMaria, Esq. CLIFTON BUDD & DeMARIA, LLP The Empire State Building 350 Fifth Avenue, 61st Floor New York, New York 10118 (212) 687-7410 CLIFTON BUDD & DeMARIA, LLP represents employers exclusively with regard to labor disputes with unions and advises on compliance with all federal, state and local laws governing the employment relationship. Its law practice extends to the defense of lawsuits brought by employees against the companies that employ them and advice on lawful terminations.

Italy-America Chamber of Commerce • www.italchamber.org

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44

Luciano

Moresco Interview

Luciano Moresco Laura Donati

Italy-America Chamber of Commerce • www.italchamber.org

Trade With Italy

L

uciano Moresco, a well known agent for Italian menswear lines has recently expanded his own brand for Fall/Winter ‘16 collection. It includes outwear, sport

coats, sport and dress pants in addition to his already acclaimed shirts. Those who know Luciano in person also know how entrepreneurial and energetic he is. We managed to meet him in his showroom on the Upper West Side in Manhattan for a brief interview.

What are the key elements that characterize your brand?

The Luciano Moresco collection is entirely manufactured in Italy but it takes a more casual and wearable direction than from the classic Italian style. The brand distinguishes itself with printed fabrics, materials with interesting and tridimensional surfaces and lots of color for customers who are not afraid to show their individuality and are ready to have fun with fashion.

Why have you decided to create a made in Italy collection specifically for US market?

I have been working in America for many years and I have gained a deep knowledge of the market and the tastes of American customers. I am fully aware of what a sophisticated American gentleman is looking for and this has meant challenging the traditional Made-in-Italy by injecting powerful colors, whimsical details and liveliness.

What makes your collection different from other Italian brands?

The collection has been conceived to be a perfect bridge between Made-in-Italy and the US market.

I have carefully chosen the best manufacturers and sources in Italy because quality and craftsmanship are essential but at the same time I wanted to create a young and original line where each item is attentively priced.

What are the main reason- to-buy your products?

Basically it is threefold: Firstly for American menswear stores Luciano Moresco collection is a real margin builder. Secondly the design is contemporary, colorful and fresh. The traditional customers will buy it as an extra piece, in a way to give themselves a treat and satisfy their spontaneity. Thirdly, the energy of my product also appeals to a younger generation strengthening the future of the brand.

Browsing in the showroom it is clear that Luciano Moresco paid a lot of attention to being innovative and the result is a charming combination of expressive colors, modern design and fine fabrics that might be bold but it is definitely seductive.

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Italy-America Chamber of Commerce • www.italchamber.org

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Italy-America Chamber of Commerce • www.italchamber.org

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IACC member Profile:

Boies, Schiller & Flexner LLP

By Nicholas Gravante and Eugene Nardelli Although founded only relatively recently, Boies, Schiller & Flexner LLP has quickly become one of the top-tier law firms in the United States, and is synonymous with high-profile litigation. If you have heard of the U.S. government’s antitrust case against Microsoft in 2001, the Supreme Court battle between Vice President Al Gore and future President George W. Bush over the U.S. presidential election in 2000, or the legal fight over samesex marriage in California, you have heard of our chairman, David Boies.

In the 19 years since it was founded, this law firm has been at the center of many of the biggest legal fights of the day. We helped the British bank Barclays Plc to keep $8 billion worth of assets that it bought when it rescued Lehman Brothers at the depth of the financial crisis in 2008. In 2014, we helped a whistleblower stop manufacturing practices that were turning the guardrails on U.S. highways into lethal weapons that were killing motorists. And today, we are helping DraftKings fight off an assault on its business by the Attorneys General of New York and other states who say that betting on fantasy sports is illegal.

And while these huge, complex, high profile cases are the ones we are best known for and we excel at, we also do litigation work for smaller companies, and for individuals. We are highly regarded as lawyers in the arts, insurance, energy, entertain-

IACC member Profile

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ment, fashion, food and beverage, and sports worlds, to name a few.

In one recent example, we represented a New York businessman and his family in a dispute with his partner over the company they had created together. The two men started out delivering beer and soda in 49 Brooklyn in the 1970s, and by the turn of the century had built Arizona Iced Tea, the biggest maker of ready-to-drink tea in the United States. When our client wanted to sell his stake, his business partner, on the strength of a contract that restricted stock sales to outsiders, was offering only peanuts on the value of the company. In two trials, we were able to demonstrate the true value of the company, and the partner eventually offered our client a reasonable payout.

In addition to our U.S. litigation work, we also have a highly ranked team based in London of experts in resolving cross border disputes, whether it be litigation in London over an international bond issue or an arbitration in Milan over a contract by a manufacturer in one country to supply goods in another. And our corporate team, based in New York, gives bespoke advice to companies doing deals around the world. In fact, wherever there is litigation, an international arbitration, or a cross-border deal, our lawyers stand ready to provide the highest quality representation.

Boies, Schiller & Flexner is proud to be one of the newest members of the Italy America Chamber of Commerce.

Nicholas A. Gravante Jr. is a lawyer with extensive trial experience, including business crimes, complex commercial litigation, and antitrust litigation. He has been consistently honored as one of the country’s top litigators.

Until he joined Boies, Schiller & Flexner in 2013, the Honorable Eugene L. Nardelli served for 18 years as a Justice on New York state’s Appellate Division. Before that, he was a Justice in the state’s Civil and Criminal divisions.

Italy-America Chamber of Commerce • www.italchamber.org

by Robert Gibson

Don’t Bank Your Retirement on Your Business

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nvesting in your own business makes sense.

Many businesses achieve significant growth each year. However, when you consider that many small businesses fold every year, it becomes clear that banking your retirement solely on the success of your business might not be the best idea. There is no guarantee that your business will continue to grow or even maintain its current value. If your business is worth less than you were counting on at the time you planned to retire, you could be forced to continue working or sell it for less than what you were expecting.

Business owners often assume that their businesses will be their main source of retirement funds, but that strategy could be riskier than you think. It’s generally not wise to put all your eggs in one basket. Broadly diversifying your assets may help protect against risk.

Diversification involves dividing your assets among many types of investments. Putting all your money into a single investment is risky because you could lose everything if the investment performs poorly Robert Gibson, Financial Advisor Investment Professionals, Inc. located at First National Bank of Long Island

Robert Gibson draws on 30 years of experience in business management and as a financial advisor at major firms to help individuals, families, and business owners reach long-term financial goals. Using risk-managed strategies and a comprehensive, “big picture” approach, Robert seeks to bring investments, insurance, education, retirement, estate, and tax planning into one efficient financial plan that minimizes gaps that can leave clients under-prepared and under-protected.

Using IPI’s robust Private Asset Management platform to screen thousands of investments against your investor profile, Robert will help you define a custom, structured plan and monitor performance and investor profile alignment over time – both focused on delivering consistent progress toward your goals. His overall objective is to get you the most from your hard-earned money without undue risk.

Robert holds FINRA Series 7, 63 and 65 licenses and is licensed to provide life and health insurance in the state of New York.

He also holds a Bachelor of Business Administration from Adelphi University in Garden City, New York.

For more information about Robert and his financial advising practice, visit www.robertmgibson.com.

Robert can be reached at 516-759-2800 or robert.gibson@invpro.com.

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— even if that investment is your own business.

Of course, diversification is a method used to help manage investment risk; it does not guarantee a profit or protect against the risk of investment loss.

Consider what would happen if you were planning to rely solely on the sale of your business to fund your retirement, only to have the U.S. economy fall into a recession about the time you planned to retire. If a recession occurred when you planned to retire, it could affect the sale of your business or the income it generates for you.

Likewise, there is no assurance that a larger competitor won’t overtake your market, or that demand for your business’s goods and services won’t weaken because of new technology, rising energy prices, consumer trends, or other variables over which you have no control.

Your business is almost certain to provide some of the money you need to retire. By building a portfolio outside of your business, you are helping to insulate your retirement from the risks and market conditions that can affect your business.

The information in this article is not intended to be tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor.

The content is derived from sources believed to be accurate.

Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Emerald. © 2016 Emerald Connect, LLC NO BANK GUARANTEE | NOT A DEPOSIT | NOT FDIC INSURED | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY | MAY LOSE VALUE All Securities and Advisory Services offered through Investment Professionals, Inc. (IPI), a Registered Broker/Dealer and Registered Investment Advisor and member FINRA and SIPC. The investment services offered by IPI are in no way affiliated with or offered by the The First National Bank of Long Island, nor is the The First National Bank of Long Island a registered broker/dealer. Customers work solely through IPI with respect to their investment, brokerage and securities transactions. IPI does not offer or provide legal or tax advice. Please consult your attorney and/or tax advisor for such services. The products offered by Investment Professionals, Inc. are not insured by the FDIC, the NCUA or any other agency of the government, are not deposits or other obligations for the bank or guaranteed by the bank and involve investment risks, including possible loss of principal amount invested.

Italy-America Chamber of Commerce • www.italchamber.org

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IACC member Profile: Quintet Partners and the IACC

Trade with Italy magazine from time to time will feature articles on business partners of the Chamber. These are companies or individuals with whom the Chamber has maintained a long lasting relationship in order to promote and market Italian products in the US markets.

Quintet Partners joined the Italy America Chamber of Commerce this past September 2015 and we would like to formally introduce ourselves to the Chamber and its members.

We are excited to become integral and enthusiastic partners and friends to the more than 300 other esteemed members of the Chamber.

We look forward to forging relationships , both personally and professionally , in an organization that has a distinguished 150 year record of creating lasting bonds amongst its associates while building enduring ties between Italy and the United States.

What Quintet Partners brings to the IACC is a wholly unique and singular business platform that , to our knowledge , does not exist anywhere else in the United States.

IACC member Profile

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Quintet Partners is a specialist in double digit cost savings and efficiency for corporations, firms, businesses, organizations , municipalities and also entities such as charities and universities.

broad range of financial services including services such as working capital lines, seasonal facilities, letters of credit, revolving lines , asset based lending, factoring, long term debt, and bridge loans.

Through a generally no cost , no fee, non – retainer (mostly vendor compensation) structure, there is no downside risk to the client. The client does not engage, hire or retain Quintet Partners as a consultant ( i.e., no consultant fee or retainer), the work is offsite and non-obtrusive and the client has essentially zero resource expenditure in terms of time, effort , money and personnel.

Quintet Partners , through our no cost offering is perfectly positioned to assist domestically and internationally based companies in both refining their existing business practices and cost structures as well as capitalizing on new and emergent markets and opportunities.

Our distinct business model which has been embraced by many corporations over the past fifteen years and is endorsed by GE Capital, focuses on seven key services that are critical for most organizations. Quintet Partners cost reduction and efficiency expertise is in : Telecom and Technology , Insurance , Energy , Merchant Card Services and Logistics / Freight .

Additionally , our Financial Services division broadens our offering by assisting our clients in securing their necessary financing. We initiate, negotiate and help close transactions to our clients’ advantage and act as their banker and team member.

We provide the experience and knowledge to service our clients with finance requirements, conducted with a customized approach and an expeditious solution. Our negotiating expertise and institutional relationships at the owner and most senior levels allows us to satisfy the needs of our clients across a Trade With Italy

Moreover, we welcome the opportunity to work and partner and grow with start- up businesses in all sectors to assist them in initiating their development and evolution in a cost efficient and productive manner from the ground floor and beyond.

Within our partnership , one of our partners, Gene Cordiano , has had a 30 year relationship with the Italian Trade Commission and in his former role as executive vice-president at Bank of New York, had a sizeable portfolio of Italian owned entities. In keeping with that tradition, Quintet Partners would like to contribute to the notion that the platform provided by the Italy America Chamber of Commerce can serve as an exceptional incubator of idea flow, corporate connectivity and lasting friendships.

Marc-André S. Buenger Managing Partner Quintet Partners LLC 917-750-6174 ( Direct ) marc-andre@quintetpartners.com quintetpartners.com

Italy-America Chamber of Commerce • www.italchamber.org

by Richard L. Mattiaccio

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ITALY’S MEDIATION LAW: BRINGING THE PARTIES TO THE TABLE

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mericans like to think that Americans invented mediation. As in so many fields of endeavor, however, Italy was a pioneer, at least in theory, if not in practice. Then, when Italy did get serious about putting mediation in practice a few years ago, it did so in a characteristically unique and innovative way. The resulting national mediation law challenges many American and European notions about mediation. Recent statistics suggest that Italy’s approach, involving a heavy government hand used to force private parties to the negotiating table, may actually work to some degree, at least in Italy.

Early Development of Mediation in Italy Italy’s Code of Civil Procedure has provided for voluntary mediation in cases pending before justices of peace since 1942. Mediation also has been available for some time in contracts related to suppliers, farming, employment and landlord-tenant relations. Traditionally, most forms of mediation in use in Italy have been imposed Italy-America Chamber of Commerce • www.italchamber.org

as a condition to pursuing or continuing a legal proceeding, and so have not been based on the voluntary participation of the parties. The Italian penchant for “mandatory” or “compulsory” mediation has challenged the general international consensus that mediation is only effective when the parties freely choose to go to a third-party, neutral mediator to facilitate the negotiation of a settlement of their dispute. (For an overview in English of the legislative development of mediation in Italy, see T. Galletto & R. Mattiaccio, “Mediation in Italy: A Bridge Too Far?” in Dispute Resolution Journal, Vol. 66, No. 3 (2011), on which this brief summary article is largely based.)

Desperate Times Call for Desperate Measures Claims at the European Court of Human Rights against Italy for denial of access to the justice system as a human rights violation, and similar claims for compensation against Italy in Italy’s courts of appeal under Law No. 89/2001, the “Pinto Law” make for sensational news articles. (See, for example, “Legge Pinto: Otto condanne per l’Italia” [Pinto Law: Eight Judgments Against Italy], Trade With Italy

Il Sole 24 Ore, May 3, 2010.) The less colorful but troubling overall statistics on civil case backlogs and delays have placed a good deal of pressure on Italy’s Parliament and Government to require parties to submit their civil disputes to mediation.

In the three-year reporting period 2007-2009, for example, cases at the tribunal (trial) level ranged in duration, depending on the year and form of decision, from 15.2 to 28.1 months. During the same reporting period, the duration of an appeal at the court of appeals level ranged, depending on the same factors, from 37.9 to 52.5 months. Small matters before justices of the peace ranged in duration from 9.7 to 14 months. Nearly six million pending civil cases in a nation of 60.7 million people appeared to make a compelling case for requiring parties to go to mediation to try to settle their disputes.

Mediation to the Rescue Since 1993, a number of privately sponsored mediation initiatives have become available in Italy through the European Court of Arbitration, chambers of commerce, specialized mediation providers specific to a single consumer sector (e.g. telecom, financial services), and private providers of B-to-B mediation services.

Beginning with a small number of mediations filed during the period 2005-2008, mediation filings at the chambers of commerce peaked at 20,246 in 2008 and then declined to 18,642 in 2009.

By contrast, during the same period consumer mediation claims against telecom providers increased without interruption. The cases administered by the Regional Committee for Conciliation (Corecom), which was established for that purpose by Law 249 of 1997, numbered 8,434 in 2005 and 43,403 in 2009. In 2009, telecom cases administered by Corecom and by the chambers of commerce accounted for 67 percent of all cases submitted to mediation.

Privately sponsored mediation has been available in Italy for years but had not attracted much interest on the part of potential users of private services, at least not before the current mandatory mediation law went into effect.

Development of Italy’s Current Mediation Law The EU Directive 2008/52/CE on mediation in civil and commercial matters (EU Mediation Directive), adopted on May 21, 2008, applies by its terms to cross-border civil and commercial disputes; it expressly does not preclude EU member states from implementing mediation regimes at the national level.

Italy’s Parliament responded to the 2008 EU Mediation Directive as an invitation to adopt a comprehensive civil and commercial mediation statute consistent with the EU approach. The result was Law No. 69, dated June 18, 2009, which authorized the reform of Italy’s civil litigation system and the creation of a comprehensive mediation program for civil and commercial cases. Law No. 69 was less than clear, however, as to whether the Government could provide for compulsory mediation, and if it could, within what limits.

The law did contain detailed provisions regarding the professionalism and independence of mediators and the need for mediation providers to be registered with the Ministry Trade With Italy

of Justice. The law authorized bar associations, and other professional organizations to establish lists of qualified mediators to hear disputes referred to mediation by the tribunal courts.

Law No. 69 also set forth a number of other provisions designed to jump-start mediation in Italy. For example, the law (i) obliged attorneys to advise their clients, before initiating litigation, of the availability of mediation through registered mediators; (ii) limited the duration of mediation to four months; (iii) provided for mediation costs and fees to be set at the time of appointment; and (iv) allowed for a “success fee” to the mediator if the mediation results in a settlement. The law also provided that there must be a sufficient separation of roles to ensure that the mediator is neutral, independent and impartial.

In Law No. 69, Italy’s Parliament also authorized the Government to provide the courts with discretion: (i) to decide not to shift fees and expenses in favor of the party that wins in litigation if that party turned down a proposal in mediation that would have provided all the relief provided in the litigation, and to award the losing party its fees and expenses and impose an additional payment on the winning party for having rejected the offer in mediation.

In addition, to facilitate the enforcement of agreements that come out of mediation, Law No. 69 authorized the courts to enforce such agreements and authorized the result of mediation to be the basis for a recorded lien.

The Government responded with Decree No. 28, a law that attracted considerable criticism of its compulsory provisions from Italian legal scholars, the Superior Council of Magistrates, and the Commission on the Study of Mediation and Conciliation of the Consiglio Nazionale Forense. (See T. Galletto, Il Modello Italiano di Conciliazione Stragiudiziale in Materia Civile [The Italian Model for Extra-Judicial Conciliation in Civil Cases] [A. Giuffré ed. 2010] at 44 et seq.) Supporters of the decree argued that compulsory mediation would increase use of mediation and help to reduce the courts’ backlog, particularly in small, individual consumer rights cases. (See PORRECA, La mediazione e il processo civile: complementarietà e coordinamento [Mediation and Civil Justice: Complementary Nature and Coordination], in Società 631 et seq. [2010]). Critics argued, among other things, that the legislation was inconsistent with the 2008 Directive’s emphasis on a process that (i) is voluntary and facilitative, (ii) is confidential, (iii) does not discourage legal representation, and (viii) would have the benefit of enforceability of any resulting agreement in EU member states.

The Magistrates’ Council questioned the likelihood of success of compulsory mediation and suggested that the parties would go through the motions to meet their formal obligations to participate in mediation and then proceed with the litigation. Under this scenario, mediation would make civil litigation more costly and time-consuming than it already was.

The unionized lawyers responded by going on strike to protest the decree and, in particular, the fact that parties could go to mediation without lawyers and come out of mediation Italy-America Chamber of Commerce • www.italchamber.org

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with a “mediator’s proposal” that could hurt them if the case went forward to a decision in court.

• Voluntary mediation resolved 7,973 cases in 2011 and 15,926 cases in 2014

In December 2012, Italy’s Constitutional court struck down the Government’s mediation scheme on the ground that some of its provisions exceeded the authority granted by Parliament. The Government quickly responded with Decree No. 69 of 21 June 2013, the law that is now in effect.

This Revised Law introduced several important innovations, including:

• Mandatory mediation resolved 31,288 cases in 2011 and 131,360 cases in 2014

• Reducing the maximum time for mediation from four to three months •

llowing parties to quit mediation early (after the first conA ference with the mediator) if settlement seems unlikely

• Allowing mediators some discretion in whether to issue a mediator’s proposal • Allowing courts some discretion in fee-shifting against the prevailing party for rejecting the mediator’s proposal • Requiring that parties be represented by counsel in the mediation • Providing that lawyers may be mediators “as of right” if they undergo training • Narrowing the types of cases for which mediation is compulsory to approximately 8% of all civil cases, including • Banking and financial • “In rem” matters (diritti reali) • Division of assets • Leasing • Gratuitous loans • Medical Malpractice • Defamation/Libel • Condominium disputes.

The Revised Law preserved the parties’ option of pursuing alternative procedures that have developed over the years for investor disputes with financial institutions (Camera di Conciliazione e Arbitrato) and banking disputes (Arbitrato Bancario Finanziario).

The Revised Law also introduced a new provision authorizing judges to issue a “conciliation proposal” at the first conference or at any time through trial, and allows the judge to “take into account” a party’s rejection of the court’s conciliation proposal.

Practical Impact of Italy’s Mediation Law Statistics through June 2015 available on the Website of the Ministry of Justice indicate that the compulsory provisions of the Revised Law are having a positive impact on settlement of cases, and on the frequency with which parties proceed to voluntary mediation as well. For example: Italy-America Chamber of Commerce • www.italchamber.org

• Judicial referrals have increased tenfold from 2011 to 2014.

The Ministry of Justice also reports that, in the first half of calendar year 2015, the success rate for mediations that go beyond the initial, informational session reached 43 percent.

The ramp-up needed to provide the required volume of trained mediators has resulted in a boom for private mediator training companies. Private providers of mediation services, including local providers affiliated with international mediation associations also have seen growth in their business in Italy.

Italy’s law schools have been revising their course offerings to train the next generation of mediators. Although mediators are very modestly compensated in the mandatory mediation system (with compensation capped at Euro 200 for claims in excess of Euro 50,000), mediator appointments offer a much-needed entry point into the legal profession for recent graduates of Italy’s law schools. Whether mediators with little or no practical experience will be effective mediators, however, remains an open question.

Time will tell whether Italy’s mandatory mediation system will achieve its general public policy goals, namely to reduce backlogs in litigation in Italy’s civil courts and to render Italy a less litigious society. As a practical matter, the system is already offering parties an opportunity, as well as a relatively cost-effective and painless mechanism, to avoid the years of frustration associated with waiting for Italy’s courts to decide their dispute.

Richard L. Mattiaccio Partner Squire Patton Boggs (US) LLP 30 Rockefeller Plaza New York, NY 10112 +1 212 872 9858 • richard.mattiaccio@squirepb.com Richard Mattiaccio is a partner in the New York office of Squire Patton Boggs, a global law firm with 44 offices in 21 countries. He has 30+ years of experience in arbitration and mediation as counsel and as a neutral arbitrator or mediator, including recent mediator service in a shareholder mediation that he conducted entirely in Italian under the rules of the International Centre for Dispute Resolution (ICDR) of the American Arbitration Association (AAA) and that resulted in settlement prior to arbitration. He is a Fellow of the College of Commercial Arbitrators (CCA) and a member of the Executive Committee of the Chartered Institute of Arbitrators (CIArb) NY Branch. He has published and spoken about mediation in Italy for the AAA/ICDR and for CPR International Institute for Conflict Prevention & Resolution.

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