Fiat is remaining tight-lipped surrounding reports of bidders for its industrial unit to be spun off from the main company.
Speculation in the Italian press had indicated Daimler might be interested in a potential bid for Fiat Industrial, encompassing the truck, industrial and maritime, agricultural and construction equipment business as opposed to the car and related component division.
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However, a statement released today (22 September) by Fiat noted: “In relation to the comments published in the press concerning a potential transaction related to the future Fiat Industrial activities, Fiat clarifies that in the normal course of business, the Group reviews opportunities to enhance operational synergies and access to new markets through potential cooperation of varied nature with other international manufacturers for each of its businesses.
“As already announced during the presentation of 2010-2014 Strategic Plan, one of the aims of the proposed demerger of the capital goods activities is a significant improvement in strategic flexibility available to the newly formed entity to pursue the above mentioned opportunities.”
Fiat Industrial will handle the non-car business, while Fiat will be responsible for the remainder, with both divisions operating as independent and separately listed companies with their own management teams and boards of directors.
Daimler was not immediately available for comment.
