Punto deal signed with Fiat

Fiat and the Serbian government have penned an agreement on production of the Punto in Kragujevac, the Italian outfit has announced.

Source: B92, Tanjug

The agreement was signed in Turin in the presence of Economy Minister Mlađan Dinkić.

Under the deal, the Punto will be manufactured in Kragujevac not only for the domestic market, but for export too. The agreement also stipulates that production will begin in March and will reach a level of at least 15,000 cars a year, depending on market conditions.

A government delegation has been in Turin for two days discussing business plans for 2009 with Fiat officials, as well as a date when production of the company’s new model could begin at Zastava.

Dinkić, who is in Turin today with Fiat representatives, told B92 that the deal with Fiat had not been called into question, though new investments would come slowly because of the economic crisis.

“In March, work will begin alongside preparations for launching the new model, but those preparations will take a bit longer,” he said.

“Investments will be slower than we originally planned, but we couldn’t have predicted that the economic crisis would reach these proportions when we signed the contract with the Italians, and neither could the Italians,” said Dinkić.

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