Italy Gov't Demands Fiat Clarify Industrial Plans
ROME (AP) — Two Italian Cabinet ministers have demanded that carmaker Fiat, which controls Chrysler, clarify its plans for investments in Italian plants amid mounting concern over possible closures.
Economic Development Minister Corrado Passera said the government isn't interfering in Fiat's decision-making but that its concern is justified, given Fiat's importance in Italy. He criticized what he called a series of "too many unclear and unintelligible communiques" concerning Fiat's future.
Labor Minister Elsa Fornero said she had approached Fiat for a meeting, reminding the automaker it had a responsibility to its workers, not just shareholders.
Italy's largest employer reiterated Thursday that it would provide details about its plans during an earnings call Oct. 30. Sales in Italy, Fiat's main market in Europe, dropped by 20 percent in the first six months of 2012.