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Business - Italy - Fiat signs deal with Russians
Turin,Italy -International Herald Tribune (France)/Bloomberg -July 24, 2006: -- Fiat said Monday that it had signed an agreement expanding a pact with Severstal-Avto to add the assembly of Ducato vans in Russia. Fiat also finalized an agreement to build trucks in China... Severstal, Russia's third-largest automaker, will build 75,000 of the vans a year starting in late 2007, for sale in Russia and for export... Fiat also said, that it had completed a joint venture of its Iveco trucks unit with SAIC Motor and Chongqing Heavy Vehicle Group to build trucks in China... Fiat and SAIC will create a 50-50 joint venture called SAIC Iveco Commercial Vehicle Investment, which in turn will buy 67 percent of Chongqing Hongyan Motor, a unit of Chongqing Heavy, Fiat said...
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