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Business

Fiat plan would shut down factories all over Europe, says report

Latest update : 2009-05-08

A takeover of Opel by Italian carmaker Fiat would entail the closure of factories in Germany, Italy, Britain and Austria, according to a document reportedly submitted to the German government by Fiat.

AFP - Italian auto group Fiat could shut down factories across Europe if it succeeds in its bid to take over Germany's Opel, according to a document released on Thursday.
  

The document, submitted to the German governnment by Fiat and cited by Dow Jones Newswires and German daily Handelsblatt, said it could close sites in Germany, Italy, Britain and Austria if it took over Opel.
  
Fiat is trying to gain control of Opel, the European subsidiary of struggling US car maker General Motors, after taking a stake in another US giant, Chrysler, which filed for bankruptcy last week.

Date created : 2009-05-07

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