I match between Fiat and Chrysler for a global strategyFor admin · 25.01.09 · Category: Companies, Fiat, Imported, Last News
ROME. - The self-propelled Italian Fiat and the North American giant Chrysler sealed an agreement to create a global strategic alliance. According to this one, the house of Turin will remain with an initial quota of 35 % of the company nortereamericana, in an alliance that he does not foresee that Fiat has to do no investment to counted in Chrysler, not a commitment to finance to the house of Detroit in the future. Two self-propelled ones will make use of the respective distribution networks.
The agreement with Chrysler is “very important and useful”, said Luca Cordero di Montezemolo, president of the group Fiat, who emphasized that from the point of view of the Italian company “it means to be able to sell technology and gain access to markets with big potential for us, taking marks as Alpha again Romeo and the Fiat 500 ″ to the United States.
While, according to analysts, Fiat well or badly it managed to resist to the crisis that beat durísimamente to the sector last year, Chrysler is the North American colossus of four wheels that more is paying the price of the recession due to the low dramatic art of sales and to the contraction of the credit. Chrysler closed 2008 with 30 % less of sales, clippings of personnel and production, and a loan lifebelt for 4000 million dollars on behalf of the American government to be able to overcome the sharpest phase of the crisis, remembered the Italian newspapers.
Not binding preliminary agreement between Fiat and Chrysler, which will be completed in April, foresees that the group of Turin has access to the platforms of product and to the factories of Chrysler in the United States, and that the North American group assists to Fiat in the landing of the legendary one and renewed Fiat 500 and of Alpha Romeo on the North American market. On the other hand, the giant norteramericano will have access to the platforms of product Fiat and to the support of the Italian company in the distribution on important external markets in which Fiat is present.
For Sergio Marchionne, representative manager of Fiat, “the inciativa represents a stone miliar in the stage of rapid change of the sector and confirms the commitment and the determination of Fiat and Chrysler to continue to play a significant roll in the global process”.
John Elkann, vice-president of Fiat and grandson of the legendary boss, Gianni Agnelli, said that in the future the self-propelled one might go beyond the quota of 35 %: the agreement “is good, there are many current things and we can rise”, it indicated the press.
According to Wall Street Journal, the agreement will improve the Chrysler image before the North American government, which gave him a millionaire loan; and it is a “defensive move to be able to survive in the long term”. The same newspaper also emphasized that “Chrysler and Fiat are similar, and in some way, complementary. Chrysler operates prevalentemente in the United States and three quarters of his sales are linked by trucks, minigo and utilitarian. Fiat specializes in small or medium cars. Two companies would benefit from a major global sales volume”.
For Marchionne, who in 2004 managed to save the traditional company of Turin of the bankruptcy, “the initiative represents a stone miliar in the stage of rapid change of the sector and confirms the commitment and the determination of Fiat and Chrysler to continue to play a significant roll in the global process”.
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