 The company blamed "continuing decline" in the market.Andrea Merloni from 2010 succeeded his father Vittorio to lead the Company as the new Chairman.On 9 June 2010, the Company announced an investment of 120 million over the 3-year period 2010-2012 to consolidate its presence in Italy and simultaneously the closure of the two plants Brembate (Bergamo) and Refrontolo (Treviso).