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Old 04-23-2010, 08:10 AM
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Default Fiat to spin off truck lines, keep cars and Chrysler

Fiat to spin off truck lines, keep cars and Chrysler

April 21st, 2010 by Bill Cawthon
In a move that caught many industry-watchers by surprise, Fiat will keep its automotive operations and spin off its Iveco large truck and Case New Holland businesses into a new entity, Fiat Industrial S.p.A. Analysts had expected the car business to be separated.
Instead, Fiat CEO Sergio Marchionne said Chrysler will be further integrated into the Italian company’s automotive and light commercial vehicle lines
“We have found in Chrysler the perfect partner and we have been able to agree on some very basic principles. It is a dream that I have had since 2004,” Marchionne said.
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