hjenkins at SW.rr.com
Sat Dec 19 04:25:11 EET 2009
A warm welcome for Tata from Italy
December 17th, 2009 under Auto News. 0 Comments
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Italy's call for saving the downfall of Fiat is flashed in the Indian auto
industry and the targeted are Tata Motors and M&M. the call came from the
Italy's Economic Development Minister who was here to promote the business
deals at $8billion. The Italy car unit in the Sicilian island may be taken
over by the Italy government and will be handed over to any Indian auto
maker who comes for the rescue.
However no official comment could be got from either of the companies. The
Minister too did not speculate nor confirm any such move but invited the
Indian investors. The Italy unit of Fiat at Termini(the smallest of the 5
units) has the capacity of 400 cars a day. This is also the costliest plant
because of the cost involved in shipping the parts to the island. The
manpower is 3500 with the component unit to have 3000 more.
Fiat is in the mood of closing down the units after 2011 since the sale has
fallen down. The government in Italy is not for this fearing protests from
the people. Tata-Fiat is a combined network for Italian made cars in select
cities of India. This is the reason to target Tata.
More information about the TerminiImerese