Food System

Agricultural consortium of Siena and Arezzo, Federconsorzi 2 siege continues

December 7, 2021

128

Coldiretti’s magic circle persists in continuing its siege of the Agricultural Consortium of Siena and Arezzo, CAPSI, through Federconsorzi 2 aka CAI S.p.A.

Tuscan farmers and ranchers, however, are resisting the bullying and deceit of the generals and barkers at Palazzo Rospigliosi. The treasury cannot be touched.

Table of Contents

Agricultural Consortium of Siena and Arezzo, CAPSI. 120 years of glory

The Agricultural Consortium of Siena was founded in 1901 and incorporated that of Arezzo in 1999 through the purchase of a business unit. CAPSI is now a cooperative society with more than 850 members and over 200 workers including employees (83 units), consultants and sales agents. In observance of its charter, the Consortium provides goods and services useful to agriculture and animal husbandry. For the benefit of members, with a mutualistic approach, and more. Specifically, CAPSI:

– produces, buys and sells seeds, fertilizers and pesticides, machinery and equipment, etc.

– Manages agricultural credit operations, on its own and as an intermediary,

– Performs, promotes and facilitates the collection, transportation, enhancement and sale of products and co-products,

– Provides for the operations of voluntary storage transfer, utilization and processing, sale and distribution of agricultural and agri-food products.

More than a thousand farms, large and small, find in the Siena and Arezzo Consortium a point of reference for anything that may be useful for their activities and the care of the wonderful ecosystems. Cinta Senese and Chianina, exceptional pecorino and emblazoned wines, in the rural cradle of the Renaissance.

CAPSI, the development business plan

The governance of the Consortium-achieved in 2018, with the election of a Board that represented Farmers Union and CIA, as well as Coldiretti, in equal numbers of directors (5-5-5)-had enabled the appointment of a worthy director, Ado Guerrini. He deserves great credit for having prepared a business plan-certified by an economics professor and already approved by 12 of the 14 lenders involved-that allows not only the restructuring of CAPSI’s debt, through cost efficiency and the sale of non-strategic properties, but also the commercial development of the Agricultural Consortium. Also through the reinvestment of 20 percent of the proceeds from the sales of the aforementioned assets.

The shareholders’ meeting, on 6/29/21, approved both the business plan-which guarantees, among other things, business continuity-and the 2020 budget, notes to the financial statements, and the accompanying management report. Among other things, operating results have exceeded expectations, with revenues as of 10/30/21 exceeding those of the same period in the previous year by €14 million and expected to reach €99 million as of 12/31/21. With an Ebitda(Earnings Before Interest, Taxes, Depreciation and Amortization) of about 670 thousand euros as of 6/30/21. The meeting 29.6.21 had also elected the new board with two CIA directors, two from the Farmers’ Union and five from Coldiretti, under the chairmanship of Giuseppe Bicocchi Morandini Frediani. (1)

Coldiretti, the new assault on CAPSI.

Following the sudden death of the president on 8/25/21, Vice President Luca Marcucci (CIA) assumed the relevant duties as per the bylaws. But Coldiretti took the opportunity to impose its own decisions, in a direction contrary to what the members had just resolved. CAPSI’s Board of Directors, at its meeting 29.9.21, thus elected a new president – Eros Trabalzini, with only the votes of Coldiretti’s advisors – and carried forward the Palazzo Rospigliosi plan. Abandon the development business plan and merge the Agricultural Consortium of Siena and Arezzo into Federconsorzi 2 (CAI S.p.A. and C.A.I. Real Estate S.r.l.). Without even involving the unions, ça va sans dir.

The Coldiretto board then replaced Ado Guerrini-the director of CAPSI’s economic miracle-with Mario Conti, attorney for CAI Real Estate S.r.l. domiciled at Palazzo Rospigliosi. Instead, membership in the Federconsorzi 2 project stipulates that:

– all debts to banks (€ 30 mln approx.) and the real estate of the Consorzio Agrario di Siena e Arezzo (€ 70 mln approx.) should flow into CAI Real Estate S.r.l. A corporation where the financial partners AgriCorporateFinance Srl (the ‘aircraft carrier’ of Coldiretti’s ‘Green Enterprises’, Romed S.p.A. (Carlo De Benedetti’s ‘safe’) and IPI S.p.A. (from De Benedetti’s circle) have already devoured a good part of the treasures of the Consorzi Agrari Tirreno, Emilia, Adriatico, Centro Sud, as we have seen (2,3). With tax evasion or fraud of more than 10 million euros to date unpunished, to the best of our knowledge (4)

– all interest-bearing business units (including personnel?) would instead be transferred to CAI S.p.A. with administrative headquarters in San Giorgio di Piano (BO).

Agricultural consortium of Siena and Arezzo, the revolt of the members

130 members of the Agricultural Consortium of Siena and Arezzo launched a revolt in mid-October against Coldiretto board decisions. Demanding that the wishes already expressed by the CAPSI Members’ Meeting be respected, and therefore calling for a meeting to be convened where they can confirm their intentions, with a clearly defined agenda (Agenda):

1) Confirmation of the development business plan,

2) Expanding the number of board members to ensure effective member representation,

3) Appointment of new board members.

CAPSI’s board of auditors , on 25.11.21, appears to have solicited the convening of the meeting within the terms requested above with 130 PECs sent by members to the Consortium. But the newly appointed chairman Eros Trabalzini instead called a meeting, on 17.12.21, distorting theagenda to ‘Consortium’s adherence to the corporate integration path called the Consorzi Agrari d’Italia Project, inherent and consequent resolutions‘. A real mockery.

Public meeting on the future of the Agricultural Consortium of Siena and Arezzo, 9.12.21

Thursday, December 9, 2021 11:30 am is convened in Rapolano Terme (SI) location Crocevia 222 at the Grand Hotel Serre a public event dedicated to the future of the Agricultural Consortium of Siena and Arezzo. All local farmers and ranchers, institutions and banks, workers and citizens are invited.

The meeting is being organized by a group of CAPSI member farmers with the aim of shedding light on the risks associated with Operation CAI a.k.a. Federconsorzi 2, including through the testimonies of farmers in northern Italy who have suffered similar experiences of aggression from their Consortia.

It is also intended to demonstrate the full ability of the Siena Consortium to successfully carry out the business plan it has already initiated, without ceding the management of its future to outside parties, nor giving up its mutualistic objectives, nor surrendering its treasuries to financial companies.

Participation in the work is also possible online, at the link https://meet.google.com/ney-fncy-zhc

#Clean Spades!

Dario Dongo