FIAT to replace Seicento and invest zl. 700 million
FIAT is planning new investments in Poland worth at least zl. 700 million.
Enrico Pavoni, president of FIAT Polska and FIAT Auto Poland, said that a
new production line will open next year in their factory in Tychy. The
first new cars should roll-off the production line at the end of 2003. The
new Fiat model is to replace the Seicento. Car market analysts are very
optimistic about the plan and believe it will yield good financial results
for the company. In 2002 FIAT Auto Poland will produce around 200,000 cars
and import various new models, including those of Alfa Romeo and Lancia.
FIAT hope that this strategy will help the company to make a small profit,
as compared to a loss of zl. 290 million in 2001. First quarter results for
2002 still leave room for improvement, but the good news is that Pavoni says
the company will not fire any more workers. (Puls Biznesu. pp. 1, 3) A.D.
