Fiat parent says car maker is talking to Volvo, others

Article Abstract:

Fiat SpA confirmed reports that it is talking to Volvo AB about a possible alliance, but stated it is also speaking to other groups. Fiat gave no indication what sort of partnership the two companies are considering and offered no names of the other candidates. The speculation of a possible partnership has driven stocks of both Fiat and Volvo up over the last several weeks. Industry experts say both companies are in need of partnerships in order to cut costs and face increasing competition.

Europe, Asset sales & divestitures, Acquisitions & mergers, Mergers, acquisitions and divestments, AB Volvo

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Fiat to revamp or close 18 plants, raise capital

Article Abstract:

Fiat announces it will close or remodel 18 of its automobile manufacturing plants as part of its restructuring. Roberto Testore, chief executive of the car division, announced his resignation.

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Fiat had 4.3 billion euros loss for 2002

Article Abstract:

Fiat S.p.A. posted a loss of 4.3 billion euros for the 2002 year. The company also said it would conduct a restructuring of its struggling automobile unit.

Sales, profits & dividends, Finance, Company sales and earnings, Company restructuring/company reorganization, Reorganization and restructuring, Company earnings/profit, Company organization, Automobile Industry

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