Friday, October 5, 2012

Fiat threatens to abandon Italy

Old Fiat 500
The crisis in Europe and especially in the automotive sector has made Fiat leaders thought in alternatives to reduce costs.

The Italian brand seeks more public support it currently are not possible in your country, so consider moving to Serbia or Brazil. The CEO, Sergio Marchione and the President, John Elkann, met with the Italian government to explain the reasons for such consideration.

 Fiat has invested about 5 billion euros in its five factories in the last three years and only safeguarded the industrial presence of the group due to the financial security that comes with extra activities.

 Fiat will hold an investment of 2.3 billion in a new factory in Brazil. The new plant is under construction and the company secured financing in the order of 85% of the total project, and when activity will start with tax benefits for a minimum of five years.

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