Difference between revisions of "CIP"
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Revision as of 21:34, 14 June 2009
1922 - 1925
In 1921, STAR (Società Torinese Automobili Rapid) fell into difficulties and was bought up by Constantino Petromilli, starting in 1922 with the small car brand CIP (Cyclecar Italiana Petromilli) production started.
Unfortunately, there was no need to save the company. In 1921, seventeen years after its foundation, STAR was put into liquidation. The establishment was acquired by the CIP SPA and the continuation of stores were identified by CIP (Cyclecar Italian Petromilli), by Constantine Petromilli, which put them on sale while keeping the name STAR. Four years later, June 25 1925, the liquidation was complete. After the final statement, it showed a surplus of 107,000 lire, to be distributed to over 70,000 regular shares valued at 25 pounds each, with an allotment equal to one pound and fifty.
A final game of destiny lies in the acquisition of buildings and machinery by the company, a company founded by his brother Matthew in 1906. Of all the brothers only John is in position over Constantino Petromilli, shortly afterwards he retires, but their companies continue to interact and merge with each other.
The most popular model was the 1075 C.I.P. N, a four-cylinder engine with 1,075cc components. In 1924, with production set in Turin, the Cyclecar era started nearing it's end and C.I.P. closed it's door in 1925.
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