In 1921, the Banca Italiana di Sconto, which backed the Ing. Nicola Romeo & Co, went broke and the government needed to support the industrial companies involved, among which was Alfa Romeo, 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 Istituto per la Ricostruzione Industriale (IRI) by Benito Mussolini's government, which then had effective control. The company struggled to return to profitability after the Second World War, 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. During the 1960s and 1970s, Alfa Romeo produced a number of sporty cars, but struggled to make a profit, so Istituto per la Reconstruzione (IRI), the state conglomerate that controls Finmeccanica sold the marque to the Fiat Group in 1986.
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