Just as Chief Executive Sergio Marchionne recently said, the Fiat Group confirms and reiterates all its economic and financial objectives set ... for 2008
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Fiat chairman Sergio Marchionne (L) and Serbian Economy Minister Mladjan Dinkic shake hands after signing a joint venture between Serbian government and Fiat carmaker in Belgrade on September 29, 2008. Serbia and Italian carmakers Fiat signed a deal on the Zastava car plant, foreseeing investments of 700 million euros (1.0 billion dollars). The operation will be based in the central Serbian town of Kragujevac, and is expected to produce 200,000 cars a year by the end 2010, with capacity for another 100,000 if required, the two partners said in a statement.
Serbia's President Boris Tadic (C), Italian Minister of Foreign Affairs Franco Frattini (R) and Sergio Marchionne CEO of FIAT Group give statements to media after signing a definitive agreement for the formation of a billion-dollar joint venture between Serbia and FIAT in Belgrade September 29, 2008.
We can't have the Americans unlocking $25 billion in loans for their three manufacturers while we would be caught up in a state assistance regime that does not allow us to help our European automakers