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FACTBOX-Fiat splits off industrial holdings
December 31, 2010 / 2:04 PM / in 7 years

FACTBOX-Fiat splits off industrial holdings

 Dec 31 (Reuters) - Shares in Fiat SpA FIA.MI and Fiat
Industrial FI.MI will start trading as separate companies on
Monday following a demerger of the Italian automaker's
industrial assets.
 The aim of the move is to unlock value and spur growth at
the auto group. Chief Executive Sergio Marchionne has said the
two units will be better placed to focus on their strategies
with greater freedom to seek out alliances.
 Here are some facts about the demerger:
 
 FIAT SPA    
 -- To hold units for autos, parts and engines and other
assets.
 -- Targets 6 million cars produced by 2014.
 -- Revenues to grow around 19 percent per year to 64 billion
euros ($85.57 billion) in 2014 (without Chrysler).
 -- Trading profit seen at 3.5 billion euros in 2014 from
around 600 million euros in 2010.
 -- Split seen boosting chance for merger with U.S auto maker
Chrysler, 20 percent owned by Fiat.
 -- Net industrial debt at 1.6-2 billion euros after
break-up.
 -- Net consolidated financial services debt at about 1.5
billion euros after break-up.
 -- Sergio Marchionne will be CEO.
 -- Company to include services such as accounting,
purchasing, information technology and payroll for both groups
 
 FIAT INDUSTRIAL 
 -- To hold CNH Global CNH.N farm equipment unit, Iveco
truck segment and marine and industrial sectors.
 -- Revenues targeted to rise to 29 billion euros in 2014
from more than 19 billion euros in 2010.
 -- Trading profit targeted to rise to 3.3 billion euros in
2014 from around 600 million euros in 2010.
 -- Net consolidated financial services debt at about 10
billion euros post-demerger.
 -- Net industrial debt at 2-2.4 billion euros after
break-up.
 -- Sergio Marchionne to be chairman. Harold Boyanovsky will
be CEO of CNH division and Alfredo Altavilla will be CEO of
Iveco division.
 
 (Reporting by Ian Simpson and Stephen Jewkes; Editing by
Erica Billingham)


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