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Fiat announces farm, truck spinoff

Fiat announces farm, truck spinoff

Fiat CEO Sergio Marchionne says the company will spin off its farm and construction vehicle businesses in order to "give birth" to a global auto company that could build 6 million cars by 2014.
Marchionne says Fiat SpA believes "right now" is the time to carry out the spinoff. He said Wednesday it could be completed by the end of the year.
Marchionne says Fiat didn't do it earlier because it needed the collective strength of all the business to turn the company around after he took over in 2004.


Updated : 2021-10-25 00:55 GMT+08:00