Fiat CEO Claims: We May Buy Over Half Of Chrysler This Year

A Fiat unit that produces construction and farming equipment is now trading independently from Fiat’s automotive unit on the Italian Stock exchange in Milan.
In 2009, Fiat purchased 20 percent of Chrysler stocks. In return, Chrysler received and Fiat’s management expertise and small-car and clean-engine technology. With this purchase, Fiat is moving towards being a major International car manufacturer. Fiat indicated that it could buy a controlling interest of Chrysler Corporation this year.

Chrysler, is recovering from its bankruptcy and is in the process of increasing sales, marketing new models and preparing to make its stock public. Fiat and Chrysler CEO Sergio Marchionne said that “I don’t know whether it is likely, but it is possible that we go over the 50 percent if Chrysler decides to go to the market in 2011.”

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