Fiat Powertrain Technologies to buy General Motors interest in Gloss engine plant
One of a last vestiges of a aborted partnership in between Fiat
Fiat Powertrain Technologies (FPT) and General Motors (GM) have signed the preliminary share send agreement for FPT to take GM’s 50 per cent share in FIAT-GM Powertrain Polska, an engine production corner venture in the special mercantile zone of Bielsko-Biala, Poland.
There will be no impact on the day-to-day manufacturing operations of Bielsko-Biala. A plant will continue to furnish a 1.3 liter small diesel motor fuel engine (SDE) for both Fiat and GM applications as well as will goon to be managed by FPT.
A 1.3 SDE entered array prolongation in April 2003, it equips most of a Fiat Group models such as Panda, 500, Punto, Mito, Musa/Idea, Ypsilon, Dobl? as well as powers Opel/Vauxhall A gila, Corsa, Meriva, Astra as well as Combo vehicles in the GM portfolio.
A share send agreement is theme to a compulsory antitrust approvals routine. This is approaching to be finished insideof a initial entertain of 2010 as well as the sale will become effective during this time.
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