Rome

Marchionne confirms Fiat's Italy 'commitment'

Meeting with industry minister 'went very well'

Marchionne confirms Fiat's Italy 'commitment'

Rome, May 31 - Fiat CEO Sergio Marchionne confirmed that Fiat would be keeping up its plants in Italy in a meeting with Industry Minister Flavio Zanonato in Rome Friday. "I confirmed our commitment to the country," Marchionne said, denying rumoured cutbacks at loss-making plants. "The meeting went very well", he said. Marchionne has said in the past that Fiat's factories worldwide are effectively paying for those in Italy, which have not turned a profit for years. Fiat, which received huge State aid before turning itself around in the 1980s, has also been accused of wanting to "abandon" Italy and stop paying Italian taxes by possibly moving its HQ from Turin to Detroit when it completes its merger with Chrysler at the end of this year. There has also been some controversy over reports that its separate industrial-vehicle group may shift its base to the UK once merged with agriculture and construction machinery multinational CNH.

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