In 1921, the Banca Italiana di Sconto, which backed the Ing. Nicola Romeo & Co went bankrupt, and the government needed to support the industrial companies involved, of which Alfa Romeo was among, through the "Consorzio per Sovvenzioni sui Valori Industriali". In 1925, the railway activities were separated from the Romeo company, and in 1928 Nicola Romeo left. In 1933, the state ownership was reorganized under the banner of the Italian state industrial organization Istituto per la Ricostruzione Industriale (IRI), which then had effective control. The company struggled to return to profitability after World War II and turned to mass-producing small vehicles rather than hand-building luxury models. In 1954, it developed the Alfa Romeo Twin Cam engine, which would remain in production until 1994. The Istituto per la Ricostruzione (IRI), the state conglomerate that controls Finmeccanica sold the marque to the Fiat Group in 1986 due to the marque being unprofitable.
