Iveco
will transfer an Argentinean heavy truck assembly line to Brazil because of the
fall of the vehicle market in Argentina. The line concerned is the Iveco Eurotec.
Iveco will build a new assembly line for the Eurotec trucks in the Iveco/Fiat
plant in Sete Lagoas, Minas Gerais state. The transfer of production from the
Argentinean Cordoba plant will involve an investment of R$ 50 million (about
$US 18 million).
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The Brazilian Iveco/Fiat plant was inaugurated last November and now produces
the Fiat Ducato and Iveco Daily light commercial vehicles.
Iveco will start work on the Eurotech assembly line next month and expects to
commence local production at the end of 2002.
The automaker will continue to make the Eurotec models in Argentina until the
inauguration of the line in Brazil.
After the line transfer, the Cordoba plant only will produce mid-size trucks
of the Eurocargo range.
$US 1 = R$ 2.80 (reais)
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