Fiat will close 2012 with a trading profit of €3,8 billion and net income of €1,2 billion. This was announced by the managing director of Lingotto, Sergio Marchionne, on a visit to the Melfi plant, where today, together with the president John Elkann, he received the premier Mario Monti. The official objective of the meeting was the presentation of the new development plan of the Sata plant in Melfi, where the company will produce two Jeep and Fiat branded mini SUVs.
Marchionne then underlining that Fiat is overall "a healthy company“, even if he estimates that he will end 2012 with losses in Europe on mass-market brands equal to 700 million euros. For this reason, Fiat intends to "remove itself from the fray of mass-market brands to compete" on the higher end.
The Melfi plant “will be substantially modified with a total investment of more than one billion – continued the CEO -. Once the modernization works are completed, this plant will have enormous flexibility. In fact, we will be able to modulate the number of Jeeps in any percentage compared to the 500 Xs to be built out of the total line. Once the works are completed, Melfi will once again be a model production centre, a world-leading automotive plant. When production reaches full speed this factory will be able to build 1.600 cars a day organized over three shifts".
In any case, it is the "first step of a wider program that starts from Melfi. A new chapter that talks about the integration between Fiat and Chrysler and opens up new solutions for staying in Italy and returning to being profitable", continued Marchionne, recalling that for the automotive sector "the fifth consecutive year of decline" is coming to an end" .
The number one at Lingotto has repeatedly underlined the company's renewed attachment to our country, explaining that "we can and must make the Italian plants the basis for vehicles destined for the whole world". Marchionne then specified that to make these new investments, Fiat "doesn't ask for public aid", but for the removal of obstacles to businesses. Finally, addressing the Premier, the CEO expressed a positive opinion on the reforms of the last government: "The Monti agenda shows courage, clarity and foresight“. Elkann then added that “the credibility regained with Monti must not fail. He guaranteed the stability of the country”.
By now already in the electoral campaign, the Professor has thus also received the support of the main Italian industry. And he took the opportunity to make a political speech: “I think it would be irresponsible to squander the many sacrifices that the Italians have made – Monti said addressing the workers-. Thirteen months ago Italy had a high fever and an aspirin was not enough, but a bitter medicine not easy to digest, but absolutely necessary to eradicate the disease. We are only at the beginning of structural reforms. Today, from Melfi, an operation is starting which is not for the faint of heart, but we know that a strong-hearted Italy can emerge”.
