On February 15th, Fiat managing director Sergio Marchionne told the committee on productive activities of the Chamber of Deputies that Fiat’s “head” would remain in Turin provided that the “Fabbrica Italia” plan is implemented, that access to financial markets is positive and that agreements are complied with. He detailed the investment of €20 billion for Italy by 2014: €4bn for Fiat Industrial and, of the remaining €16bn, “65% for Fiat Group Automobiles, 15% for luxury brands and 20% for engines and components,” saying he was ready to increase wages up to the German level if the use of the factories goes from “40% currently to 80%.” Marchionne also mentioned profit-sharing like Chrysler but only after “reversing the trend that makes Italy the only country in the world where Fiat’s entire industrial and commercial system is at a loss.”
for Italy by 2014: €4bn for Fiat Industrial and, of the remaining €16bn, “65% for Fiat Group Automobiles, 15% for luxury brands and 20% for engines and components,” saying he was ready to increase wages up to the German level if the use of the factories goes from “40% currently to 80%.” Marchionne also mentioned profit-sharing like Chrysler but only after “reversing the trend that makes Italy the only country in the world where Fiat’s entire industrial and commercial system is at a loss.”
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