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Fiat rejects Bertone rescue plan

Fiat rejects Bertone rescue plan

Ralph Hanson April 2nd, 2007 Ralph Hanson By Ralph Hanson Author April 2nd, 2007
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December 31st, 1969 Struggling Italian coachbuilder Bertone will have to scramble to come up with a new survival plan before investors meet this week after Fiat Group rejected earlier plans to help fund its rescue. Fiat’s CEO Sergio Marchionne said talks between the two over a possible joint-venture to build a new Lancia model fell through last week because the deal “was not a financially viable business case.” Under the proposal, Bertone would build up to 15,000 Lancia coupe cabriolets per year from 2009, but now Automotive News reports that the cars will be built by Fiat at its plant in Turin alongside the Grande Punto on which it’s based. Apparently, the two carmakers couldn’t agree on how much of Bertone’s original workforce would be retained, with Fiat demanding that half of the coachbuilder’s 1,500 staff be dropped. Bertone is not alone in its struggle. Its main rival Pininfarina was forced to trim its staff last year just to break even, as did the competition in Finland and Germany. In the mean time, Bertone will start building campervans based on Fiat’s Iveco Daily commercial vehicle but will only need 200 staff to complete the job.
Fiat rejects Bertone rescue plan

Fiat rejects Bertone rescue plan

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Struggling Italian coachbuilder Bertone will have to scramble to come up with a new survival plan before investors meet this week after Fiat Group rejected earlier plans to help fund its rescue. Fiat’s CEO Sergio Marchionne said talks between the two over a possible joint-venture to build a new Lancia model fell through last week because the deal “was not a financially viable business case.”

Under the proposal, Bertone would build up to 15,000 Lancia coupe cabriolets per year from 2009, but now Automotive News reports that the cars will be built by Fiat at its plant in Turin alongside the Grande Punto on which it’s based.

Apparently, the two carmakers couldn’t agree on how much of Bertone’s original workforce would be retained, with Fiat demanding that half of the coachbuilder’s 1,500 staff be dropped. Bertone is not alone in its struggle. Its main rival Pininfarina was forced to trim its staff last year just to break even, as did the competition in Finland and Germany.

In the mean time, Bertone will start building campervans based on Fiat’s Iveco Daily commercial vehicle but will only need 200 staff to complete the job.

Tags: Industry

Posted in: Fiat, News


Comments (3 total)

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  1. By lucky #1, Posted: 4/2/2007

    http://www.lucianobove.blogspot.com

    It is going to be very difficult for them..I hope that it will turn OK, however it is sad!

    Lucky

  2. By kamelia tcherveniakova #2, Posted: 7/5/2008

    HALLO,
    I HAVE FIAT PANDA 2206 I SEND TO FIX IN PRETORIA MENLYN AT FIAT
    AGENS.AFTER THEY REPERING FIRST TIME AND I RESEAVE THE CAR IN 2 WEEKS
    TIME THE CAR IS BROKEN AGAIN WITH THE SAME PROBLEMS FIRST TIME TIMING
    BAL,AFTER I LEFT FOR SECON TIME THE CAR I RESEAVE IN AFTERNON 4 OCLOC
    IN NEXT DAY AFTER I DRIVE 80KM THE CAR IS AGAIN BROKEN THAT CAR IS 3TD
    TIME FOR SAME REPERING AND I ALREADY PAY R9000 NOW SAME AGENS ASK MI
    FOR A NEW MONEY R26000 BECAUSE THE DRIVING PULY WITH NOT PROPA FIX
    ATACH AND NOW KRENKY PULI IS BROKEN.I LOOK FOR CONTACT MR.SERGIO
    MARCHIONNE BECAUSE THIS PEOPLE HERE IN SOUTH AFRICA NEVER HALP ME AND
    THEY BROKE MY CAR.I LOOK FOR A HALP AND SOMEBODY MUST HALP ME.THANK
    YOU.I LOOK FOR A ANSWER.
    REGARDS
    KAMELIA TCHERVENIAKOVA
    POBOX12387 HATFIELD,PRETORIA 0028
    R.S.AFRICA

    kamelia3@gmail.com
    +27 725112500

  3. By kamelia tcherveniakova #3, Posted: 7/5/2008

    HALLO,
    I HAVE FIAT PANDA 2006 I SEND TO FIX IN PRETORIA MENLYN AT FIAT
    AGENS.AFTER THEY REPERING FIRST TIME AND I RESEAVE THE CAR IN 2 WEEKS
    TIME THE CAR IS BROKEN AGAIN WITH THE SAME PROBLEMS FIRST TIME TIMING
    BAL,AFTER I LEFT FOR SECON TIME THE CAR I RESEAVE IN AFTERNON 4 OCLOC
    IN NEXT DAY AFTER I DRIVE 80KM THE CAR IS AGAIN BROKEN THAT CAR IS 3TD
    TIME FOR SAME REPERING AND I ALREADY PAY R9000 NOW SAME AGENS ASK MI
    FOR A NEW MONEY R26000 BECAUSE THE DRIVING PULY WITH NOT PROPA FIX
    ATACH AND NOW KRENKY PULI IS BROKEN.I LOOK FOR CONTACT MR.SERGIO
    MARCHIONNE BECAUSE THIS PEOPLE HERE IN SOUTH AFRICA NEVER HALP ME AND
    THEY BROKE MY CAR.I LOOK FOR A HALP AND SOMEBODY MUST HALP ME.THANK
    YOU.I LOOK FOR A ANSWER.
    REGARDS
    KAMELIA TCHERVENIAKOVA
    POBOX12387 HATFIELD,PRETORIA 0028
    R.S.AFRICA

    kamelia3@gmail.com
    +27 725112500

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