A German director of VGF, Karl Scherer, replaced Gualino as head of the firm and cut output drastically.

[5] In 1930 Gualino was forced to sell his share in SNIA Viscosa and many other investments to try to reduce his debt.

[2] By this time the company had lost its leadership position, but in 1931 it was the first to manufacture a short-fiber flock, and the first to produce cellulose from reeds to eliminate dependence on imported materials.

[4] Only barely surviving the crash of 1929, SNIA recovered under the leadership of Franco Marinotti and enjoyed prosperity until World War II, when the manufacturing plants were heavily bombed by the Allies.

[10] In December 2010, the Italian Stock Exchange ordered the withdrawal of SNIA ordinary shares and bonds from the market.