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AUTOMAKERS NEWS * USA: FIAT & Chrysler affair
* Michigan - Chrysler, Fiat: Significant challenges remain
(Photo: Sergio Marchionne, Fiat’s chief executive and CEO of Chrysler Group) Auburn Hills,MICH,USA -The Detroit News, by Bryce G. Hoffman -January 3, 2014: -- Fiat SpA’s surprise year-end deal to acquire the rest of Chrysler Group LLC from the United Auto Workers has removed a major obstacle to CEO Sergio Marchionne’s dream of forging a global automotive powerhouse... Fiat continues to hemorrhage cash in Europe, where auto sales remain depressed. Auburn Hills-based Chrysler is making money that its Italian parent desperately needs, but there are still limits on how much of that cash Fiat will be able to use... Combining the two companies’ finances — and thereby giving Fiat access to Chrysler’s cash — was the main reason Marchionne was so keen to acquire the rest of Chrysler from the UAW-run trust... Chrysler has had to hire thousands of new workers to bring its factories back to full capacity and beyond, and it has had to rebuild a decimated supplier network. That, combined with the challenge of integrating with Fiat’s global product development and manufacturing system has led to some rocky launches...
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