Pending U.S. Treasury clearance, FIAT S.p.A. will take out a 35% equity share in Chrysler.
As European demand for automobiles declines, Fiat announced plans to idle its six factories in Italy for periods between four and six weeks. This represents a prolongation of an earlier plan that called for shorter closings and shift reductions. While these closures will affect a broad range of models, reports indicate that Fiat's upscale brand, Alfa-Romeo, will experience the greatest production cuts.[1]