"Fiat investments will certainly continue”
The Italian Minister for Economic Development says that Fiat investments in the automobile plant Zastava will “certainly continue.”
Tuesday, 10.03.2009.
11:42
The Italian Minister for Economic Development says that Fiat investments in the automobile plant Zastava will “certainly continue.” Claudio Scajola says the agreement signed last year will be respected. "Fiat investments will certainly continue” “The fact is that Fiat, just like the entire automobile industry in the world, was seriously hit by the global economic crisis, but it is nevertheless doing better than many thanks to the fact that, unlike others, it has very competitive production,” he said, speaking to daily Politika. Scajola said a stimulus package from the Serbian government to buy Fiat vehicles in Serbia "has also been helpful". Deputy Prime Minister Mladjan Dinkic, who is also minister of economy, said on March 4 at the Business Forum on Kopaonik that Zastava had signed an agreement with Italian Fiat in the last hour to save the company from ruin. The agreement envisions the total Fiat stake to be EUR 200mn in cash, while Serbia’s role will amount to EUR 50mn in cash and EUR 50mn in assets and rights. Fiat slowed down investment of EUR 200mn founding capital for joint production of automobiles in Serbia because of the world economic crisis. Italy is Serbia’s third biggest trading partner, with a total exchange of EUR 2.1bn in 2008 and one of three most important investors, with at about EUR 800mn.
"Fiat investments will certainly continue”
“The fact is that Fiat, just like the entire automobile industry in the world, was seriously hit by the global economic crisis, but it is nevertheless doing better than many thanks to the fact that, unlike others, it has very competitive production,” he said, speaking to daily Politika.Scajola said a stimulus package from the Serbian government to buy Fiat vehicles in Serbia "has also been helpful".
Deputy Prime Minister Mlađan Dinkić, who is also minister of economy, said on March 4 at the Business Forum on Kopaonik that Zastava had signed an agreement with Italian Fiat in the last hour to save the company from ruin.
The agreement envisions the total Fiat stake to be EUR 200mn in cash, while Serbia’s role will amount to EUR 50mn in cash and EUR 50mn in assets and rights.
Fiat slowed down investment of EUR 200mn founding capital for joint production of automobiles in Serbia because of the world economic crisis.
Italy is Serbia’s third biggest trading partner, with a total exchange of EUR 2.1bn in 2008 and one of three most important investors, with at about EUR 800mn.
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