Formula for success

FERRARI president Luca di Montezemolo last week formally presented the latest phase of Formula Uomo – a project he started 11 years ago to modernise the company’s Maranello factory at a cost of almost $330 million.

This consists of a completely new production line – which is about to commence building the new California but will eventually handle all V8 and V12 models – and, importantly for an Italian company, a restaurant for the company’s staff with seating for 576.

“With the addition of these two new buildings, we have completed the renovation of the entire car production area that began in the late 1990s and has involved the investment of 200 million euro,” he said.

Mr di Montezemolo also announced that the next project will be rebuilding the Formula One team facilities, with work commencing in 2009.

Left: Ferrari president Luca di Montezemolo.

Ferrari has also invested in its own power plants, which will not only reduce the amount of electricity taken from the national grid by 25 per cent but also reduce CO2 emissions by 35 per cent.

With motor industry wages regulated in Italy, Ferrari has invested heavily to make working at Maranello more attractive.

It has even created the nearby Maranello Village, a company-owned residential complex for employees moving to the town from other areas, offers home loans and education subsidies for employee families.

Formula Uomo literally means ‘Formula Man’ and is a word-play on the Italian for Formula One (Formula Uno).

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