Europe > Southern Europe > Italy > Fiat Serbia, interest in working with Smederevo steelworks

Italy: Fiat Serbia, interest in working with Smederevo steelworks

2013/08/24

Italian carmaker Fiat means to cooperate with Serbian steelworks Smederevo from which it could buy metal plates for 500,000 vehicles on an annual basis, Serbian Finance Minister Mladjan Dinkic said Thursday during a visit to the Fiat plant in Kragujevac, central Serbia, local media reported Friday.

Dinkic said the chief of Fiat Serbia, Antonio Cesare Ferrara, gave him a letter on the issue by Fiat Group vice president Alfredo Altavilla. 'New investments to support steelworks are necessary for this cooperation' said Dinkic. The large steelworks of Smederevo, next US Steel left the venture, is looking for a new foreign partner to return to full production.

The minister stressed that Fiat in Kragujevac is the major exporter in Serbia and the automotive industry is part sectors leading the country's economic and industrial increase.

Kragujevac's exports will be worth 1,5 billion euros this year, he said.

'Request in the US for the Fiat 500L has doubled', said Dinkic, noting that 3,700 workers are at the moment employed by Fiat's factory in Serbia, a lot of additional than originally planned under Fiat's agreement with Belgrade's government.

The finance minister, who will leave his post in the coming days next a government reshuffle, travelled to Kragujevac for the presentation of the new model 500L Living.

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