Fiat warns another Italian plant at risk

Fiat’s chief executive said on the 3 July 2012 that the carmaker may need to close another plant in Italy if he did not secure further cost-cutting concessions from its workforce.

Sergio Marchionne’s warning came amid signs that PSA Peugeot Citroën and Ford Motor were also preparing to break Europe’s longstanding taboo on closing car plants because of persistently low industry-wide sales. General Motors had already announced plans to close a factory in Bochum, Germany after 2016.

ESO: Background information: Brussels neutral on carmaker overcapacity / Eurozone carmakers face downsize failure http://www.europeansources.info/record/brussels-neutral-on-carmaker-overcapacity-eurozone-carmakers-face-downsize-failure/

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