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Fiat Group Chairman Luca di Montezemolo
has reacted positively to news that the Italian government
will consider providing aid to the crisis hit Italian
automotive industry when it convenes a special meeting of
concerned parties next Wednesday (January 28).
Italian Prime Minister Silvio Berlusconi
told reporters earlier today: "There are certain sectors for
which we need to step in for example the auto sector which
has seen the deepest fall." He added that, "there are also
measures that are not costly to the state, and that help
sales."
Berlusconi said he was keeping in
"constant contact" with other European countries,
particularly France, about the plight of the auto industry.
The French Prime Minister Nicolas Sarkozy is currently
mulling offering his domestic carmakers, PSA Peugeot-Citroën
and Renault, around 5-6 billion euros in state aid.
Claudio
Scajola, Italy's Economic Development Minister, added: "In
the meeting we will assess the situation of the sector and
the possible measures to be taken in light of the line from
the meeting of industry ministers in Brussels last Friday on
the auto sector."
On a
day when Fiat's share price tumbled to close down 14.55
percent at 3.80 euros after its full year financial report
revealed dramatically reduced profits and increased debt,
Group Chairman Luca di Montezemolo issued a statement in
Turin to express his satisfaction with the scheduling of the
emergency meeting. "We greatly appreciate the Prime
Minister’s decision to hold a meeting next week to discuss
the crisis in the automotive sector in Italy.
"The
Prime Minister and the Government are well aware of the
difficulties the automotive industry is facing globally, the
importance of the industry and its entire value chain to the
Italian economy and the fact that some European countries
have, in absence of action at the Community level – which we
had hoped for on several occasions – implemented significant
measures to support the sector," continued di Montezemolo.
"In light of this, we view the Government’s initiative as a
signal of the importance it gives to a sector which is very
important in terms of both its contribution to Italian GDP
and employment."
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