FAS factory launched in central Serbian town

The Fiat Automobili Srbija (Fiat Automobiles Serbia, FAS) factory officially opened on Monday in Kragujevac, central Serbia. The plant is a joint project of the Serbian government and Italian carmaker Fiat, worth around one billion euros. FAS factory launched in central Serbian town Serbian Prime Minister Mirko Cvetkovic, Director General of Fiat-Chrysler Group Sergio Marchionne and members of the company's top management attended the official opening of the car factory. The Serbian government and Fiat signed the agreement on establishing FAS company on September 29, 2008, as a joint business association in which the Turin-based giant holds 67 percent stake while Serbia has a 33 percent share. Cvetkovic pointed out that the newly-opened plant was "one of most up-to-date car factories in world would produce the exclusive car model". The prime minister said that the joint project of the Serbian government and FAS would raise the country's reputation and bring profits both to Fiat and Serbia as a partner in the project. During the official opening of the FAS factory, Cvetkovic underscored that the EUR 1 billion investment is probably the biggest investment made in any production capacity in Serbia in the past few decades, adding that when the production reaches its full capacities, the company would directly employ 2.500 workers and another 1.000 people indirectly. Sergio Marchionne said that the opening of the new factory marks the successful completion of a completely redesigned factory and the most up-to-date industrial plant with most modern Fiat technology. The factory would be producing around 200.000 vehicles annually and the new Fiat 500 L model will appear next fall, he said. Marchionne underscored that Fiat chose Serbia as the destination for its investment due to the favorable environment for foreign investments, strong industrial tradition and young, high-profile work force. The Serbian government and Fiat signed an agreement to constitute FAS company on September 29, 2008, as a joint business association in which the Turin-based giant holds a 67 percent share while Serbia has 33 percent stake in the company. Sergio Marchionne and Mirko Cvetkovic are seen in Kragujevac on Monday (Tanjug) Tanjug

FAS factory launched in central Serbian town

Serbian Prime Minister Mirko Cvetković, Director General of Fiat-Chrysler Group Sergio Marchionne and members of the company's top management attended the official opening of the car factory.

The Serbian government and Fiat signed the agreement on establishing FAS company on September 29, 2008, as a joint business association in which the Turin-based giant holds 67 percent stake while Serbia has a 33 percent share.

Cvetković pointed out that the newly-opened plant was "one of most up-to-date car factories in world would produce the exclusive car model".

The prime minister said that the joint project of the Serbian government and FAS would raise the country's reputation and bring profits both to Fiat and Serbia as a partner in the project.

During the official opening of the FAS factory, Cvetković underscored that the EUR 1 billion investment is probably the biggest investment made in any production capacity in Serbia in the past few decades, adding that when the production reaches its full capacities, the company would directly employ 2.500 workers and another 1.000 people indirectly.

Sergio Marchionne said that the opening of the new factory marks the successful completion of a completely redesigned factory and the most up-to-date industrial plant with most modern Fiat technology.

The factory would be producing around 200.000 vehicles annually and the new Fiat 500 L model will appear next fall, he said.

Marchionne underscored that Fiat chose Serbia as the destination for its investment due to the favorable environment for foreign investments, strong industrial tradition and young, high-profile work force.

The Serbian government and Fiat signed an agreement to constitute FAS company on September 29, 2008, as a joint business association in which the Turin-based giant holds a 67 percent share while Serbia has 33 percent stake in the company.