Fiat SpA (F.MI) chief executive Sergio Marchionne might shut down a
second Italian factory, after closing one in Sicily last year, unless
the excess capacity can be used to build vehicles for North America,
Bloomberg News reported Wednesday.
Mr. Marchionne, speaking to reporters late Tuesday, said he expects
demand for European cars will stay stagnant at current levels for two
to three years and if so, "there is at least one extra car plant in
Italy," according to Bloomberg.
"If we manage to utilize the capacity to export to the U.S., this
issue will disappear," he said.
Write to nymonitoring@dowjones.com
(END) Dow Jones Newswires
July 04, 2012 20:45 ET (00:45 GMT)
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