Industry Engineering Founder Giovanni Ansaldo Headquarters Genoa, Italy | Defunct 1993 Founded 1853 Ceased operations 1993 | |
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Fate absorbed by Finmeccanica in 1993 Products Transport aircraft
Bombers
Experimental planes
Air force trainers
Seaplanes
Ship
Locomotives Successors AnsaldoBreda, Ansaldo Energia, Ansaldo STS | ||
Ansaldo was one of Italy's oldest and most important engineering companies, existing for 140 years from 1853 to 1993.
Contents
From foundation to World War I
The company was founded in 1853 as Gio. Ansaldo & C. S.A.S. by renowned players in the Genoese business world, such as Giovanni Ansaldo, Raffaele Rubattino, Giacomo Filippo Penco and Carlo Bombrini. Until the end of the 19th century, the company focused on manufacturing and repairing railway components, quickly becoming a 10,000-worker company with seven factories, and starting to expand into sectors such as shipbuilding and mechanical works in general. In 1904, Ansaldo was bought by Ferdinando Maria Perrone who, along with his sons Mario and Pio, bound the name of the Perrone family to the history of the company. Over the next twenty years, he aimed at making Ansaldo fully independent both in the ironworks and weapon-making areas, thanks to strong vertical integration. The onset of World War I was of obvious potential benefit to the company, though Italy was initially neutral. Ansaldo advocated for Italian entry into the war, both directly and by funding political groups that supported the war, such as Benito Mussolini's proto-Fascist movement.
The efforts paid off when Italy entered the war. In 1914 the company was worth 30 million lire, but its market value grew to 500 million in 1918. When the company issued shares in the summer of 1918 worth 400 million lire Ansaldo employed 80,000 workers, had dozens of factories and controlled companies such as A. Cerpelli & C., Banca industriale Italiana, Cantieri Officine Savoia, Dynamit Nobel, Gio.Fossati & C., Lloyd Italico, Nazionale di Navigazione, Pomilio, Società Idroelettrica Negri, and Transatlantica Italiana.
Fascism and World War II
Following a financial crisis with its largest creditor, Banca Italiana di Sconto, and problems in reconverting factories after the end of World War I, the Perrone family abandoned the company in 1921, and the Banca d'Italia led a consortium to save it from bankruptcy. Company strategies were drastically sized down, and during the 1920s, even though electro-mechanical productions grew significantly, Ansaldo found itself in such dire difficulties that it finally entered the control of the Istituto per la Ricostruzione Industriale (IRI), under which the company found new life and growth, partly thanks to the new war effort during fascism. The main figure in this rebirth, the engineer Agostino Rocca, reconfigured the structure and organisation of the company during his tenure as chief executive officer from 1935 to the end of World War II. War contracts indeed led to a significant growth: Ansaldo had 22,000 employees in 1939, and 35,000 in 1943.
After World War II
After the end of World War II, conversion to peacetime production again caused problems for the company. In 1948, IRI entrusted the company to Finmeccanica, which operated several reorganisation measures during the 1950s and 1960s, such as the relinquishing of all shipbuilding activities to Italcantieri of Trieste in 1966. From that year, Finmeccanica further engaged Ansaldo within its activities, and in 1980 they formed Italy's largest thermo-electric group. In 1993, Ansaldo ceased to exist as an independent entity, having been completely absorbed by Finmeccanica.
Ansaldo today
Some companies controlled by Finmeccanica still bear the Ansaldo family name: