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S.p.A. (FIA) --Fabbrica
Italiana Automobili Torino is a diversified automotive group engaged in manufacturing
activities and services. Fiat owns a stake in Ashok Leyland Ltd., their firm's Iveco
commercial-vehicle unit owns 39 per cent of a joint venture with India's
Hindusa. The Indian truck-maker builds Iveco medium-duty trucks. Fiat also owns Alfa Romeo.
Fiat owns 90 per cent of Fabryka Samochodow Malolitrazowych (FSM), the Polish goverment owns the remainder. Fiat also controls farm and construction machinery-maker CNH Global N.V. (CNH) of The Netherlands with more than a 70 per cent equity stake.
The company Fiat Auto Poland builds Fiat Cinquecentos, Seicneto, Bravo/Brava, Ducato, Palio and Siena at plants in BielskoBiala and Tychy, Poland. FAP build 350,000 units of cars a year.
In China, Fiat Auto plans to build Palio world cars. In Egypt, Nasco Corp. has a license to build 3,000 units of Fiat Tempra cars each year.
Fiat made a $2.40 billion equity swap in March 2000 with General Motors Corp. (GM), the worlds largest maker of cars and trucks. U.S.-based GM received a 20 per cent stake in the Italian firms Fiat Auto car-making subsidiary, valued at about $2.40 billion. In return, Fiat acquired a 5.1 per cent stake in GM, also worth about $2.40 billion. The two companies did not exchange any cash in the transaction.
Fiat owns 100 per cent of the former joint venture, Iveco-Ford Truck U.K. Ford and Fiat no longer have any joint ventures.
Fiat owns one third of the Chinese transmission maker Haveco, which produces 45,000 units of CV gearboxes annually. Fiat's Naveco JV gets 30,000 of the transmissions.
Fiat's equal partners in Haveco are Chinese CV manufacturers Yuejin and Hangzhou. Fiat's Iveco commercial-vehicle unit Kraz has a joint venture to build Iveco Daily and EuroCargo medium duty CVs at a facility in Kramenchuk, Ukraine. They build about 12,000 units annually.
Fiat Auto also owns Lancia (Italy). Fiat Auto owns a 50 per cent stake in Maserati, while Ferrari owns 50 per cent of Maserati.
Fiat invested $32.0 million in Morrocco to build 30,000 units of Uno and Palio cars
each year for sale in Saharan Africa market. Fiat's local partner is Moroccan automaker
Nanjing Motor Corp. a Chinese truck-maker, has a 50-50 joint venture with Fiat's Iveco commercial vehicle unit. Iveco has invested $200.0 million to produce Iveco Daily medium-duty CVs and 2.5L diesel engines. The JV plans to build 60,000 Dailys and 75,000 units engines annually.
Naveco is Fiat's 50-50 joint venture with China's Yuejin Motor Corp., which build the Iveco Daily range of medium-duty CVs. Fiat and Nizhegorod Motors GAZ have a joint venture to build up to 150,000 units of Palio and Marea cars annually in Russia. Investment may total $850.0 million.
Peugeot SA and Fiat's Sevel joint venture builds minivans in Valenciennes, France and commercial vehicles in Atessa, Italy. India's Premier Automobiles builds Fiat Unos. The companies have a joint venture, Fiat Auto India Ltd. (FIAL) to build 100,000 Fiat Palios annually from 1999. FIAL invested $326.0 million in a new plant to build Palios.
Fiat and Renault have merged their coach and bus activities. They also have merged their foundry operations.
Fiat's new projects with SAADA, the vehicle concern of the Algerian government, are on
hold. However, an existing joint venture, Fatia, plans to build Fiat Unos. Fiat hold a 36
per cent stake of the venture with an option to increase to 49 per cent.
Fiat owns a majority of the Turkish automaker Tofas, which builds the 131, Uno, Tipo and Tempra. Palio production began in 1998.
Mekong Corp. in Vietnam is licensed to build 1,000 Fiat Tempras annually. Fiat has a joint venture with Vietnam's Ho Chi Minh Motors and Hanoi Motors to produce 1,000 units of Iveco Daily CVs annually.