Marchionne says Fiat grew globally out of necessity

Carmaker still believes and invests in Italy, CEO says

Marchionne says Fiat grew globally out of necessity

Florence, June 13 - Fiat Chief Executive Sergio Marchionne said Thursday that the Italian automaker chose to expand globally out of necessity. Speaking to journalists in Florence at a meeting of regional industrialists, Marchionne said the Turin-based carmaker overcame its own crisis since 2004 by choosing to "become stronger" and "overcoming isolation" that "would have damaged" the company, and thus implied that the group's recent mergers, with Chrysler in 2009 and machinery multinational CNH this year, were not optional. "If it had remained the same Fiat of old, we would have taken the books into court (for bankruptcy proceedings) some time ago," said Marchionne. "We have created work and well-being, and we continue to invest and believe in Italy," Marchionne added.

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