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Good or bad decision by Fiat??
Fiat buys Bertone, saves jobs
August 7, 2009 - 7:09AM
Automotive giant Fiat is to acquire historic car styling, coachbuilding and manufacturing company Bertone from special administration, retaining more than 1300 jobs.
Italy's Economic Development Minister Claudio Scajola said Fiat's offer was superior to private Italian capital and Chinese and Spanish bids, with 150 million euros ($257 million) of investment over three years in the Turin company.
The Bertone plant - founded at the beginning of the 20th century and noted for its production of Fiat's X1/9, Alfa Romeo Giulietta, 850 Spider lightweight cars - is to take part in the production of certain Chrysler models. Fiat has a 20 per cent stake in the US car maker.
Good or bad decision by Fiat??