Friday, May 8, 2009

Fiat Eyes EUR1.4B Savings Via GM Asset Deal

Fiat S.p.A.

Image via Wikipedia

 MAY 7, 2009, 2:09 P.M

FRANKFURT (Dow Jones)--Italian automaker Fiat SpA's (F.MI) plan for building an empire spanning Europe, South America and South Africa with assets bought from General Motors Corp. (GM) foresees annual savings of around EUR1.4 billion from 2015 onwards, according to document seen by Dow Jones Newswires Thursday.

The document contains a presentation outlining the details of Fiat's plan, dubbed Project Phoenix.

In addition to GM's largest European brand Opel in Germany and its smaller U.K. sister brand Vauxhall, Fiat also aims to acquire Sweden's Saab unit, the document said. The automaker also wants to integrate GM's ...

Article -

Reblog this post [with Zemanta]

No comments: