Following Fiat’s recent takeover of Chrysler, a new group name and logo has been unveiled. Fiat Chrysler Automobiles (FCA) has been established in the Netherlands as a “fully-integrated global automaker,” with its common shares to be listed in New York and Milan.
Fiat shareholders will receive one FCA common share for each Fiat share they own and the FCA common shares will be listed on the New York Stock Exchange (NYSE), with an additional listing on the Mercato Telematico Azionario (MTA) in Milan.
“Today is one of the most important days in my career at Fiat and Chrysler,” said CEO Sergio Marchionne. “Five years ago we began to cultivate a vision that went beyond industrial cooperation to include full cultural integration at all levels. Today we can say that we have succeeded in creating solid foundations for a global automaker with a mix of experience and know-how on a level with the best of our competitors.”
In an interview with Italian daily La Repubblica, Marchionne said that upon the merging of Fiat and Chrysler, the Italian carmaker would be focussing on its Alfa Romeo brand. He said production would remain in Italy, and that the full takeover of Chrysler would allow investments to be directed to under-utilised plants in the country, where unemployment currently stands at nearly 13%.
“Just as the Jeep is sold in the whole world but is American to the bone, so Alfa’s DNA has to be authentically all Italian. It will indeed remain at home,” Marchionne told the Italian daily.