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Zagato and CPP Confirm Joint Venture

Rumors of Italian design house Zagato being bought by CPP Globlal Holdings have been circulating for weeks. Zagato has been a CPP customer for several years, delivering production of designs such as the 2008 Bentley Continental GTZ.

CPP Global Holdings Ltd. helps build the Aston Martin One-77 supercar and is also responsible for the Ferrari 575 GTZ limited edition Zagato.

Now Brendan O'Toole, founder and Managing Director of CPP, and Andrea Zagato have confirmed that a joint venture was established. CPP is partially owned by Russian millionaire Vladimir Antonov, who is the recent buyer of Spyker’s former sports car division as well as off road company Bowler.

"In an industry where so many design houses and coachbuilders over-expanded and attempted high volume outsourced manufacture before failing, the independent Zagato brand and its designs retain a mythical, iconic, aspirational status. For that reason, the world's luxury car brands continue to want to work with Andrea and his team and I saw huge advantages for us in developing a closer relationship, leading to the formation of the CPP Milan joint venture, which has delivered to the various ambitious targets set for it," O’Toole said in a statement for the press.

"It was quite clear for several years that our creations were complementary with CPP's manufacturing capabilities. We discussed the idea of a more advanced relationship in early 2010 and the increasingly challenging conditions facing the entire automotive industry prompted us to accelerate the process. Through / By establishing the CPP Milan joint venture, we have guaranteed the independent status of the Zagato brand ensuring the continuity of a tradition that began in 1919,” added Andrea Zagato.
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