C. Robert Kidder, former chairman of Borden Chemical Inc. and of Duracell International Inc., will become chairman of Chrysler Group LLC after the bankrupt automaker enters an alliance with Fiat S.p.A.
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As expected, Fiat has confirmed that it has submitted an offer for GM Europe's Opel and Vauxhall operations.
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As expected, Fiat has confirmed that it has submitted an offer for GM Europe's Opel and Vauxhall operations.
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Fiat CEO Sergio Marchionne is convinced that a merger of Fiat Group's car business with Opel is the best chance of survival for General Motors' German subsidiary.
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An Italian newspaper has reported that Fiat plans to shut two factories under a business plan submitted to the German government.
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Investment bank UBS has said in a research note that it is increasingly confident 'that the proposed merger of Fiat Auto and GM Europe is gaining acceptance among politicians and unions in Germany'.
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Fiat saw sales of cars and LCVs in Turkey rise 40% year-on-year in April to 10,032 to give it a market-leading 19.1% share.
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General Motors has received three bids for its Opel division, Bloomberg said today, citing a GM spokesman. GM would not name the bidders but reports suggested they are Fiat S.p.A.
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Fiat S.p.A confirmed it has submitted an offer for General Motors' Opel/Vauxhall brands as the German government extended a deadline for potential investors to bid. German press reports said Canadian auto-parts supplier Magna International Inc.
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Fiat S.p.A confirmed it has submitted an offer for General Motors' Opel/Vauxhall brands as the German government extended a deadline for potential investors to submit bids.
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Chrysler LLC today announced that C. Robert Kidder, former Chairman of Borden Chemical Inc. and of Duracell International Inc., will become Chairman of Chrysler Group LLC, once it completes its acquisition of the operating assets of Chrysler LLC and completes a global alliance with Fiat SpA. He will succeed Robert L. Nardelli.
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Italy's government has said Fiat must commit to keeping all five of its car plants in Italy if it goes ahead with an Opel takeover, media reports said on Tuesday.
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Union leaders who met Tuesday with Fiat CEO Sergio Marchionne in Frankfurt said they are still not convinced the Italian company's takeover bid is the best for Opel.
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Fiat CEO Sergio Marchionne and leaders of Germany's IG Metall union, including head Berthold Huber, are scheduled to meet today (19 May) as Marchionne attempts to win the union's support for his bid to buy a majority stake in Opel from General Motors.
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Fiat chief executive Sergio Marchionne is meeting with advisers and German government officials until Wednesday at which point he will submit a non-cash offer for General Motors' unit Adam Opel AG, a person familiar with the situation said on Monday.
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An estimated 15,000 Fiat workers protested at company headquarters in Turin at the weekend demanding job security.
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General Motors' Opel unit could go bankrupt if competing business plans for the carmaker from Fiat S.p.A. and Magna International are both unsuitable, Germany's Economy Minister was quoted as saying.
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General Motors' Opel unit could go bankrupt if competing business plans for the carmaker from Fiat S.p.A. and Magna International are both unsuitable, Germany's Economy Minister was quoted as saying.
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Thousands of workers from Italy's auto group Fiat marched through the streets of Turin on Saturday shouting for job guarantees as the company moves to create what would be the world's second-biggest auto maker.
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Fiat S.p.A gave assurances it would not cut jobs nor close plants when the government approved incentives to buy cars, Italy's Industry Minister was quoted as saying on Saturday.
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