Mercoledì, 26 Settembre 2018

Development minister to meet Fiat CEO over plans for Italy


Rome, May 30 - Italy's economic development
minister told a radio station on Thursday that he has fixed a
meeting with Fiat-Chrysler Chief Executive Sergio Marchionne to
ask about his plans for Italy.
"What I want to understand from Marchionne is what his
intentions are regarding Fiat's presence in Italy," Flavio
Zanonato told Radio24.
Zanonato was alluding to controversy that has swirled
around whether the group may reduce manufacturing in or withdraw
headquarters from Italy given high tax rates, Chrysler's
prosperous operations in North America, fist-shaking with
Italian unions over productivity, and most recently, the merger
of the group's industrial vehicle division, Fiat Industrial,
with agriculture and construction machinery multinational CNH.
"(Fiat) is the biggest company in Italy. It produces
420,000 cars, 30% of which will be sold in Italy. It's not
trivial stuff," Zanonato said.
Fiat Chairman John Elkann appeared to prepare ground at
least for shifting the legal and tax headquarters of the new
Fiat Industrial group on Thursday, saying, "Decisions on the
legal and jurisdictional headquarters are dictated by
expedience. Symbolic things for us have a very low value. What
counts is the substance. Italy and those who work in the Italian
plants will have great opportunities in the new group".
Elkann explained, "We are extremely proud of having made a
global company out of Fiat Industrial and CNH that can compete
with very strong products. Smaller headquarters give us the
possibility to structure the corporate aspect, but activities in
Italy will not only exist and remain, but will increase in
"What we produce here and the workers in the Italian plants
have a great opportunity for expansion in the world. What counts
is to have created a great global company and to have given
those who work - among them a large Italian component - many
possibilities for growth," Elkann concluded.

photo: Fiat-Chrysler Chief Executive Sergio Marchionne

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