Last week the President of the FIAT Management Board Sergio Marchionne announced that new versions of the ‘FIAT Idea’ and ‘LANCIA Musa’ models are going to be manufactured at FIAT CARS SERBIA in Kragujevac by the end of 2011.
FIAT CARS SERBIA is a joint venture company controled by the FIAT GROUP (67%) and the Serbian government. The value of the investment is gong to be about EUR 800 millions. The first units are expected to be on the market in February 2012 and the annual production shall be 160-200 thousands units. This decision has provoked strong oposition from local labour sindicates and the Italian Government because it was previewed to manufacture the new models in Italy. Anyway, it has been confirmed that FIAT is not gong to change decision.
FIAT has a long and fruitful tradition in Serbia and ex-Yugoslavia. FIAT-based automobiles began assembling activities back in 1955. Construction of new factory in Kragujevac is the biggest construction project in Serbia in past two decades. The old ‘ZASTAVA’ car factory is completely unusable for installation of new machines and technologies. Only this year, more than EUR 150 millions shall be invested in infrastructure and construction works. Installation of new and most modern technology facilities for cars production should be finnished by the beginning of the next year. The annual production is previewed to be 300,000 cars per year
LINKS:
FIAT GROUP: http://www.fiatgroup.com/it-it/Pagine/default09.aspx
FIAT: www.fiat.com
ZASTAVA AUTOMOBILI: www.zastava-automobili.com
FIAT TICKERS:
Milan: F.MI
PINK: FIATY
Euronext: FSOR.NX
Frankfurt: FIAF.F
XETRA: FIAT.DE
EUREX: FIAT.EX
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