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Posts with tag sergio marchionne

Fiat confirms buyback of Ferrari shares

Posted May 23rd 2006 3:03PM by Stuart Waterman
Filed under: Earnings/Financials

Fiat CEO Sergio Marchionne has confirmed that Fiat intends to exercise its option to repurchase most of the Ferrari stake it sold in 2002 to a consortium of banks led by Mediobanca.

Fiat originally sold 34 percent of Ferrari to the consortium, which in turn sold a 5 percent stake in 2005 to an investment company backed by the government of Abu Dhabi. Fiat will repurchase the remaining 29 percent still held by the banks, apparently allowing the Abu Dhabi group to remain a Ferrari stakeholder.

The buyback plan will up Fiat's controlling interest in Ferrari to 85 percent.

[Source: Italiaspeed]

Fiat 500 to be built in Poland

Posted May 14th 2006 11:07AM by Chris Paukert
Filed under: Economy, Euro, Plants/Manufacturing, Hatchbacks

Fiat's new 500 will speak with a Polish accent. The automaker announced Thursday that production of the supermini will begin in July of next year at the company's Tychy facility. This, from Fiat Chief Executive Officer Sergio Marchionne, who confirmed the car's production plans while visiting a plant in Italy.

The plant will churn out 120,000 500s and 120,000 Ford Kas each year over ten years.

[Source: People's Daily Online]

Alfa Romeo returning to the U.S.!

Posted May 4th 2006 8:45PM by Stuart Waterman
Filed under: Sedans/Saloons, Sports/GTs



After an absence of more than a decade, Fiat's Alfa Romeo brand is returning to the U.S. market. In a conference call May 3rd, Fiat CEO Sergio Marchionne confirmed that he has plans in place to begin distributing Alfa Romeo models in the U.S. through  Maserati's dealer network, possibly as soon as late 2007.

Italiaspeed reports that the U.S. launch models will likely be the upper end of the range - Alfa 159, Brera (shown above) and Spider. And yes, this means that the 8c Competizione is also coming to the U.S.

[Source: Italiaspeed, Alfa Romeo]


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