While the liquidation procedure continues for Area, Area 98, the new company that is taking over most of its activities thanks to the intervention of China-based King Song and an Italian furniture manufacturer, FEM, is now set for business. Beatrice Fasan, the owner of FEM, has sold her 33 percent of the company's capital to a 52-year-old manager, Giovanni Torossi, who becomes chief executive. Torossi, who has 25 years' experience in the automotive, sanitary, food and construction industries, has already begun to develop Area 98's business in the Far East. Fasan remains chairwoman of the board, alongside Torossi and another member of the board, Francesco Ferro.