Unda Radio S.p.A. Milan

 Unda Radio S.p.a. Milan

by Alessandro Battocchio – Translated by Nicolò Rubini and Lisa Glauber.

On July 31, 1958 Theddy Mohwinckel (who had been in charge of the radio sector at TH. Mohwinckel) and Dr. Giovanni Fulgenzi, CGE’s director, formed a new stock company, with fully-paid starting capital of Lit. 1,000,000 with the name of “Commissionaria Radio Televisione S.p.A.” The purpose of this company was to continue the distribution and sale of Unda Radio products produced by FIAR (Fabbrica Italiana Apparecchi Radio), a subsidiary of CGE.

The offices, a sales department and a repair shop for radios, television sets and other electrical appliances were housed at Th. Mohwinckel in Via Mercalli 9. Initially CGE owned 90% of the stock and Theddy, the managing director, the remaining 10%. At an extraordinary meeting on September 10, 1958 the Company changed its name to “Unda Radio S.p.A.” and the stock capital was raised to Lit. 20,000,000.

On September 10, 1958, FIAR formally commissioned Unda Radio to sell and advertise its products under the name Unda Radio S.p.A. with all the advertising costs to be borne by FIAR. On September 1958 Unda Radio S.p.A. opened its warehouse at Via Mercalli 11 in Milan.

On December 23, 1958, two special legal representatives for Unda Radio S.p.A. will be formally nominated: CPA Ramiro Tettamanti, former Unda Como employee, and Luigi Quaglia, nicknamed Gigi, former Th. Mohwinckel employee in the radio sector. Their appointments will last until 1964 and 1962 respectively.

After Theddy’s untimely death, Ing. Alessandro Pagni was nominated managing director. In January 1961 the warehouse in Via Mercalli was closed and in December of the same year, during a general assembly, Ing. Pagni resigned, with Ing. Pablo Gonzales Reimundis taking his place.

On July 1962, during an extraordinary assembly, it was announced that the company will be liquidated and Dr. Fulgenzi became the official liquidator.

In January 1963, the Company’s headquarters, offices and warehouse move from Via Mercalli 9 to Via Bergognone 34 in Milan. During the July 22, 1963 assembly, Dr. Fulgenzi, in his capacity as liquidator, advises to void the entire capital stock in order to absorb some of the operating losses. At the same time he advises to increase the capital stock to Lit. 13,000,000. His proposal is unanimously accepted. CGE, present as shareholder, underwrites its shares and declares its willingness to underwrite all the shares which might not be underwritten. At an extraordinary assembly on December 23, 1964, the dissolution of Unda Radio S.p.A is revoked. However, the liquidator announces that it is necessary to extinguish the debt resulting from a budget deficit of Lit. 31,600,925 at the end of March 31 of the same year. He sets forth the steps to cover the losses, by voiding the capital stock in the amount of Lit. 13,000,000 and to increase it at the same time to Lit. 24,000,000, repeating this type of operation to finally reduces the debt to Lit. 600,925. The new directors will be Swan B. Storn, Dr. Giovanni Fulgenzi and Paolo Fresco, a lawyer. On December 23, 1964, Dr. Fulgenzi is nominated Board of Directors President.

During an extraordinary assembly on March 30, 1966, a budget deficit of Lit. 4,198,171 is noted and partially extinguished by a capital stock reduction to Lit. 1,800,000, reducing the debt to Lit. 58,171.

At another extraordinary assembly on April 12, 1966, the merging of Unda Radio S.p.A. with CGE is approved. In order to take advantage of the cost-saving benefits granted by law no. 170 dated March 3, 1965, dealing with fiscal matters in mergers, CGE decided to incorporated all the companies forming the CGE conglomerate to pursue manufacturing and commercial activities as one entity. With the merger with CGE, taking place on December 15, 1966, Unda Radio S.p.A. ceases its activity.

Unda’s last general catalogue dealt with the 1962-1963 production, while the last trade show in which the Company participated was the XXVIII Radio and Television Trade Show of 1962.

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