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CEO says Fiat will stay in Italy

March 30, 2012 at 1:41 PM   |   Comments

ROME, March 30 (UPI) -- Fiat Chief Executive Officer Sergio Marchionne said the company would remain in Italy, settling an issue that had unions in an uproar.

Asked if Fiat had decided to remain in Italy, Marchionne said in an interview Tandem, a Canadian publication, "The answer is no. We have already answered that question several times."

The company is staying put, in spite of a court ruling that mandates the company rehire three union activists, ANSA reported Friday.

Marchionne said Fiat, which owns 58.5 percent of Chrysler, had appealed the ruling.

"We'll wait and see what a higher court says," he said told Tandem.

Marchionne had recently said Fiat was considering a move, blaming unions at one point for putting the company at a disadvantage.

With Europe's economy leaning toward a double-dip recession, Marchionne said the company was considering several countries for a new headquarters. He also said cars made in Italy need to be competitive with factories in the United States, where Chrysler's sales have been surging.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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