SNIA S.p.A.
 | |
| Industry | Chemicals and defense products |
|---|---|
| Fate | Bankrupt |
| Founded | 1917 |
| Defunct | 2010 |
| Headquarters | Milan, Italy |
SNIA S.p.A. was an Italian firm located in Milan that manufactured defence products, textiles, chemicals, perfumes, and corrugated paper among other products.[1] SNIA (Societá Nazionale Industria Applicazione) was founded in Turin (as SNIA Viscosa) in 1917 as a shipbuilder and gradually diversified into other areas of manufacturing. Only barely surviving the crash of 1929, SNIA recovered under the leadership of Franco Marinotti and enjoyed prosperity until World War II, when the manufacturing plants were heavily bombed by the Allies. Post-1945, Marinotti again restored the firm to being a profitable enterprise. After acquiring Bombrini-Parodi-Delfino in 1968,[2] SNIA also produced weapons systems such as the Medusa rocket system.[3] SNIA later also manufactured medical products following its merger with Sorin Group in the 1980s.
In November 2009, SNIA's debt reached almost 25 million Euros. As of December 2009, SNIA was to present its debt-restructuring plan to the Milan court system for approval,[4] but the attempt to save the firm failed in April 2010 and the firm was declared insolvent by the Court of Milan.[5] In December 2010, the Italian Stock Exchange ordered the withdrawal of SNIA ordinary shares and bonds from the market.[6]