Fiat officially acquiring 50% of VM Motori, a company Cento (Ferrara) so far in the hands of GM and Penske Corporation. Just by that Fiat bought his package in the VM, a company specializing in the production of diesel engines of its own design. Soon the company will be under the direct control of joint venture between Fiat and GM Powertrain (which acquired its 50% stake in the company 'in September 2007).
Fiat in a note explains that this acquisition "further enhances its portfolio of technologically advanced products with diesel engines for various applications, including automotive, such as the V6 engine developed recently. Fiat-GM Powertrain and VM will operate jointly, and both shareholders will continue to pursue their trade relations with VM, including engineering services and supply of diesel engines.
The business relationships that existed between VM Motori and GM and other customers will not be touched. " Someone said Alfa Romeo V6 tubodiesel? 
Fiat in a note explains that this acquisition "further enhances its portfolio of technologically advanced products with diesel engines for various applications, including automotive, such as the V6 engine developed recently. Fiat-GM Powertrain and VM will operate jointly, and both shareholders will continue to pursue their trade relations with VM, including engineering services and supply of diesel engines.
The business relationships that existed between VM Motori and GM and other customers will not be touched. " Someone said Alfa Romeo V6 tubodiesel?
No comments:
Post a Comment