The Fiat Group is to formally split into two separate companies on 1 January 2011, Fiat SpA and Fiat Industrial SpA, both of which will be listed on the Milan stock exchange.
The move is a result of the demerger approved by shareholders on 16 September.
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The company said that the activities of the Fiat Group are vastly different from each other in terms of their respective economic cycles, profit margins and capital requirements, as well as the characteristics of their customers and markets. It explained that, listed as two separate companies with the activities appropriately grouped together, their share value will be able to be a much more accurate representation of their actual value and market performance.
Fiat SpA will include the car brands of Alfa Romeo, Abarth, Fiat, Ferrari, Lancia and Maserati, as well as Fiat light commercial vehicles, along with the division of Fiat Powertrain Technology (FPT) responsible for cars and commercial vehicles, and the component companies Magneti Marelli, Teksid and Comau.
Meanwhile, Fiat Industrial will contain CNH (which includes the Case, New Holland, Steyr and Kobelco brands with 11,600 dealers and 38 factories), Iveco commercial vehicles (which include Iveco, Iveco Magirus, Iveco Astra and Iveco Irisbus brands) and the industrial and marine division of FPT.
To mark the separation of the two companies, two new corporate identities have been created.
Fiat SpA, with a clear focus in the automobile sector, will be identified by a logo displaying the word Fiat in condensed blue lettering.
“The new logo has been created in response to the need to differentiate the automobile group from the product-related brand, reinforcing the parent company’s role in the management of a multi-brand group. The graphic design was intended, in particular, to create a visual identity which portrays the strong link between past and future. This has led to the reinterpretation of an iconic logo from the past, which is also strongly evocative of the modern and innovative,” the company said.
Fiat Industrial SpA, which includes trucks, commercial vehicles, agricultural and construction equipment, and related powertrain activities, has maintained the visual identity created for Fiat Group.
