AUTOS
From Staff and Wire Reports
Fiat Completes Deal in Poland: Fiat and Poland signed an agreement concluding a deal worth up to $2 billion that gives the Italian auto maker a 90% share in the formerly state-owned FSM small car factory. Gugliemo Capra, head of Fiat’s foreign operations, and Finance Minister Jerzy Osiatynski signed the document in Warsaw, opening the way for the biggest foreign investment in post-communist Poland. Under the agreement, which has taken months to conclude after being announced, FSM becomes three joint-stock companies, and the Polish side retains a 10% share in each. Fiat Auto Poland will produce cars, Fiat Magneti Marelli Poland will make spare parts and Teksid Poland will take over metal works.
