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.
CEO Sergio Marchionne said Chrysler will be further integrated into the Italian companys 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.