The Ministry of Productive Activities, Fiat Powertrain Italia and Elasis (the Fiat Group's centre for advanced research) signed a project agreement providing for an investment plan to support Fiat manufacturing plants at Pratola Serra (Avellino) and Termoli (Campobasso) and the research activities carried out at Pomigliano d’Arco (Naples). The Minister of Productive Activities, Claudio Scajola, The Fiat head of Institutional Relationships, Ernesto Auci, and the Chief Executive Officer of Elasis, Nevio Di Giusto, were present.

Today’s agreement is part of the general 'Programme Agreement' reached with the Italian Government in December 2002. The plan calls for a number of measures. These are an industrial investment of approximately 180 million euros in the FMA plant at Pratola Serra for production of new diesel engines (1.6 and 1.9 JTD two- and four-valve engines). Also an industrial investment of approximately 434 million euros in the Powertrain Italia plant at Termoli for a new highly automated and flexible production line.
 

This new line will make advanced generation gasoline powered engines able to respond quickly to changes in demand, and the new M40 transmission for light commercial vehicles of Sevel Val di Sangro. Finally, an investment of approximately 33 million euros is earmarked for research and development activities engines specifically performed by Elasis in the area of new engines.

The Fiat Group's commitment of 647 million euros will be supplemented by a Government contribution of approximately 82 million euros.