Zastava "not worried over Fiat deal"

Officials in the Kragujevac-based Zastava factory said that there are no signs of problems with the deal made with Italian Fiat.

Izvor: B92

Monday, 15.12.2008.

13:30

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Officials in the Kragujevac-based Zastava factory said that there are no signs of problems with the deal made with Italian Fiat. But, according to Zastava Director Zoran Radojevic, officials are thinking of alternative solutions if the deal is slow to take shape. However, he did not give any examples. Zastava "not worried over Fiat deal" Economic analyst Misa Laketic told B92 that there is reason to be worried that perhaps the deal will not turn out as it was initially envisaged. He said that the situation regarding cooperation between Zastava and Fiat will be a lot clearer after March 31. “There are fears, but we have to wait until March 21, the deadline for Fiat to pay EUR 200mn and then we will know whether the arrangement in Kragujevac will start,” Laketic said. He added that there will probably be a lot of speculation and concern until then. “They are telling us in Fiat that the deal is not being questioned, that is what our government claims as well. But, the economic situation and the world financial crisis can have an effect. Let’s wait until March 31 and see,” he said. Today, Fiat will send 50,000 workers home as its plants shut down temporarily. Fiat President Sergio Marchionne stated last week that he has “never seen a crisis of these proportions” and added that 2009 will be "the worst year of his life". In Serbia, a government delegation is traveling to Kragujevac today, which will include Economy Minister Mladjan Dinkic, National Investment Plan Minister Verica Kalanovic, Secretary General for Regional Development Dejan Jovanovic, Ministry advisor Misela Nikolic and Director of the Agency for the Development Of Small And Medium Enterprizes Goran Dzafic. They will be meeting with city officials to discuss topics related to Fiat. The delegation will also discuss investment priorities in Kragujevac and implementation of projects related to Fiat, and promote a draft law for regional development. The meeting will be attended by Kragujevac mayor Veroljub Stevanovic and his deputy Nebojsa Zdravkovic. A file photo of the signing ceremony of the Zastava-Fiat deal (FoNet)

Zastava "not worried over Fiat deal"

Economic analyst Miša Laketić told B92 that there is reason to be worried that perhaps the deal will not turn out as it was initially envisaged.

He said that the situation regarding cooperation between Zastava and Fiat will be a lot clearer after March 31.

“There are fears, but we have to wait until March 21, the deadline for Fiat to pay EUR 200mn and then we will know whether the arrangement in Kragujevac will start,” Laketić said.

He added that there will probably be a lot of speculation and concern until then.

“They are telling us in Fiat that the deal is not being questioned, that is what our government claims as well. But, the economic situation and the world financial crisis can have an effect. Let’s wait until March 31 and see,” he said.

Today, Fiat will send 50,000 workers home as its plants shut down temporarily.

Fiat President Sergio Marchionne stated last week that he has “never seen a crisis of these proportions” and added that 2009 will be "the worst year of his life".

In Serbia, a government delegation is traveling to Kragujevac today, which will include Economy Minister Mlađan Dinkić, National Investment Plan Minister Verica Kalanović, Secretary General for Regional Development Dejan Jovanović, Ministry advisor Mišela Nikolić and Director of the Agency for the Development Of Small And Medium Enterprizes Goran Džafić.

They will be meeting with city officials to discuss topics related to Fiat.

The delegation will also discuss investment priorities in Kragujevac and implementation of projects related to Fiat, and promote a draft law for regional development.

The meeting will be attended by Kragujevac mayor Veroljub Stevanović and his deputy Nebojša Zdravković.

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