MILAN, April 30 (Reuters) - Italian truck and tractor maker Fiat Industrial is in the process of filing the paperwork for permission to list shares in the U.S., said the company’s chairman on Tuesday.
Fiat Industrial, which was spun off from its sister company Fiat in 2011, plans to merge with its U.S. unit CNH to create the world’s third-largest capital goods group.
“We are in the process of filing with SEC (Securities and Exchange Commission),” said Fiat Industrial Chairman Sergio Marchionne, speaking to analysts on a conference call.
He said the procedure was on track for the merged company to list its shares in the U.S. in the third quarter of this year.
As part of his introduction to the conference call after Fiat Industrial’s first-quarter earnings, he said he thinks the truck market has touched bottom in the first quarter of this year.