By Guglielmo Valia and Gilles Castonguay
Fiat Industrial SpA (FI.MI) Chairman Sergio Marchionne Friday
said he had confirmed the Italian truck and tractor maker's
commitment to its home country at a meeting held with a government
minister earlier in the day.
Mr. Marchionne met with Industry Minister Flavio Zanonato in
Rome a week after news broke that Fiat Industrial planned to base
in the U.K. the head office of a holding company set up to house
the new company to be formed after Fiat Industrial buys out
minority shareholders in its U.S. unit CNH Global NV (CNH).
The news raised concerns among labor and political leaders about
Italy's diminishing importance for Fiat Industrial as its
operations become more global. The company has a number of
factories in Italy and its head offices are in Turin, an industrial
city in the north-west of the country.
"The meeting went very well, we confirmed our commitments to the
country," Mr. Marchionne told reporters as he arrived at an event
in Rome, according to MF-Dow Jones.
Mr. Marchionne is also chief executive officer of sister company
Fiat SpA (F.MI), whose gradual takeover of U.S. partner Chrysler
Group LLC has raised fears that it will transfer its head offices
from Turin to Detroit.
Fiat Chairman John Elkann, who also attended the meeting with
the minister, has often spoken of the likelihood that the enlarged
company to be created by Fiat's acquisition of Chrysler would have
regional headquarters in every region where it's present, including
Europe, North America and South America. Mr. Elkann is also head of
Exor SpA (EXO.MI), the single biggest shareholder in both Fiat and
Fiat Industrial.
The fears reflect a growing anxiety about the country's
relevance in the global economy as Italy remains mired in
recession.
Write to Gilles Castonguay at gilles.castonguay@dowjones.com;
Twitter: @GRCastonguay