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Fiat Powertrain
Technologies (FPT) and Severstal-Auto today announced the
signature of a Memorandum of understanding that calls for
the establishment of a joint venture in Russia which will to
produce an FPT diesel engine, the F1A.
The assembly of F1A will be located within the production
facilities of Severstal-Auto’s motor plant near Nizhniy
Novgorod in the Volga region. The FPT diesel engine locally
produced in Russia will be installed in the FIAT Ducato LCV
(X 2/44 platform) and homologised for Severstal-auto’s new
SUV model - UAZ Patriot.
FPT and Severstal-Auto agreed to finalize all pending issues
with the overall goal to sign joint venture contracts in the
1st quarter 2007. "This agreement," said Alfredo Altavilla,
Chief Executive Officer of Fiat Powertrain Technologies, "is
another big step forward in our clearly defined strategy:
expand our presence in the markets with the highest growth
potential, through alliances with strategic partners, to be
close to our customers and ready to catch any business
opportunity."
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Established in March
2005, Fiat Powertrain Technologies is the Powertrain
sector of Fiat Group. FPT includes all Powertrain
activities of Fiat Auto, Iveco, Centro Ricerche Fiat
and Elasis. With its annual output of around 2,5
million engines and 2 million transmissions and a
turnover exceeding 5,3 billions Euro, FPT is one of
the most significant players in the automotive
sector on a worldwide basis. Photo: FPT at this
month's Bologna Motor Show. |
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FPT is present in 8
countries with 16 plants, 10 R&D Centers and about
19,000 employees. Among them, almost 3000 highly
skilled technicians are dedicated to the development
and engineering of innovative technologies, for a
range of engines and transmissions covering
automotive, marine, industrial, agricultural and
power generation applications. Furthermore, its
commercial and service network covers over 100
countries in the world. Photo: FPT at this month's
Bologna Motor Show. |
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"Our new project with FPT," said Vadim Shvetsov, CEO of
Severstal-Auto, "shows the strengthening of our strategic
cooperation with FIAT Group in Russia. Start of local
production of F1A will give us a very important advantage
for effective promotion of Fiat Ducato LCV in the Russian
automotive market."
OAO Severstal Auto is one of the biggest Russian automotive
companies, which represents the famous Russian automotive
brands UAZ and ZMZ and enjoys leadership positions in the
Russian automotive market. The Company produces four-wheel
drive road vehicles - the legendary UAZ SUVs, light trucks
and minivans. Severstal Auto is also the Russian largest
manufacturer of 4- and 8-cylinder petrol engines with
displacements ranging from 2.2 to 4.7 litres.
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