Evidently year Russian-Italian business does not start very well. That there Convenga also bet on anything else? What you eat also with the culture? Quote this article from the Manifesto today with some cut.
"Francesco Paternò
The Russian campaign of Fiat Sergio Marchionne ended with a defeat. The letter of intent signed in February last year with Sollers, according to car manufacturer in the country, holding controlling shares
of several companies, including the UAZ and ZMZ was broken. The Board of Directors Fiat, met yesterday morning in Turin, has spent his hand, approving the 2010 budget and dividends for shareholders. A few hours later, he understood why the Russians chose Ford as a new partner for an alliance for the production, distribution and sale of American models of the manufacturer. /.../
The Russian humiliation in fact weakens the strategy Marchionne, who in the east of the Lingotto loses a chance to grow on a booming market, moreover they are still out of the big problems in China and India into the existing agreement with Tata.
In a statement, the Italian manufacturer has said that it still intends to go it alone
confirmed plans to build commercial vehicles always Sollers.
The letter of intent, Marchionne had obtained from Russian banks, the presence of Prime Minister Vladimir Putin
, soft loan of 2.4 billion euro, to be disbursed by 2016 with the goal of producing 500,000 cars and suv Jeep later that year. Part of this money could perhaps be on the plate, whereas the government of Moscow has been pushing hard to grow the automotive industry and therefore also the only Fiat would be welcome. According to analysts at Boston Consulting, Russia could become the sixth world market
four wheels by 2020 (today is the tenth). And the first in Europe by 2018, surpassing that of Germany. Sollers's turnaround does lag behind the ability to attract capital
Marchionne of public and semi-public in the Chrysler building a stronger, after the triumphal march in Washington and Belgrade. In the letter intentistracciata, Russia, the Italian group should have nine new models to market (medium and medium-sized sedans and SUVs), six of which have been based a new platform derived by Fiat with Chrysler.
At least 10% of the vehicles produced would be exported. The establishment of Sollers Naberezhnye Chelny was expanded with new production facilities and a park technology for the production of components. The joint venture with Ford strives on two plants in the region of St. Petersburg and Tatarstan.
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