This time may be right. According to several sources close to the direction of Fiat, the Turin Group should take advantage of the presentation, today, of the industrial plan for the period 2010-2014 it negotiates with the Government and unions for long months, announcing its split. This would be a preamble to the rating separated from its automotive industry (Fiat, Alfa Romeo, Lancia, Ferrari and Maserati), which represents 57 of its total turnover.
The issue already was raised repeatedly in Italy and each time ecarte by the Lingotto. The new President of Fiat, John Elkann, was nevertheless the doubt on this subject so far. A year ago, while he was Vice President, he had lifted a taboo by declaring that he was "not excluded" that the Agnelli family, which is the representative, let dilute and, where appropriate, waive retain control of the group.
The delegate administrator Sergio Marchionne, would clearly convinced him to opt for a restructuring of very large scale. Pending official confirmation, the Fiat action launched 9.3 yesterday, at the Milan Stock Exchange, reaching 10.4 euros at the end. In its wake, the title of the Agnelli family holding Exor is is awarded 7.1, to EUR 13.9.
A little more than a year after the launch of its gradual rapprochement with the American manufacturer Chrysler, Fiat continues his transfer to forced March and seeks to find ways of forging new alliances. Sergio Marchionne creed is simple: to survive, the leading global manufacturers must exceed the critical size, it is around 6 million vehicles produced per year. With Chrysler, it estimated that approach this symbolic threshold out 5.6 million cars of its plants for 2014 (including 900,000 in Italy), from 3.3 million in 2009.
3,500 deletions of posts
The objective is particularly ambitious knowing that Renault-Nissan, without Daimler, made for his part 5.4 million vehicles last year. To this end, Fiat would launch 16 new models in the next five years, by investing in priority in the BRICs (Brazil, Russia, India and China). Thus, Sergio Marchionne is eagerly awaited on its forecast of employment in Italy, while rumours him ready intend to remove 3,500 positions in the peninsula, in addition to 1,500 already programmed the Sicilian site of Termini Imerese. In return, he should confirm his support at the Pomigliano d'Arco plant near Naples, in the Mezzogiorno, which will be given A platform on which the successor of the Panda currently produced in Poland will be made.
The split operation, the timetable and modalities remain to clarify, would have the merit of making better identifiable activity automobile stricto sensu and to raise funds for its future development. To after the economic newspaper "it Sole - 24 Ore", two schemas are in the study.
The first would be to create a new company, which would bring together the motor activities of Fiat and Chrysler and would be called to be rated. The Fiat group as currently known together while all the other trades operated by CNH (agricultural equipment), Comau (industrial robots), Iveco (commercial vehicles), Magneti Marelli (automobile equipment) and Hellenic (steel).
The second would instead seek to keep the car under the current Fiat sign and out of the side perimeter all the rest.
Sergio Marchionne will finally today publish the results of the first quarter. Analysts expect a strong reduction in losses.
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