Fiat Serbia to begin trial production of new model in March.

By bne IntelliNews February 9, 2012
Fiat Automobili Srbije (FAS), a joint venture of Serbia and Italy's Fiat, will start on March 15 the trial production of its new "L-zero" model, Serbia's deputy prime minister for economic and regional development, Verica Kalanovic, said in a government statement. Kalanovic was speaking after visiting the company's headquarters in the central town of Kragujevac. She also visited the production facilities of Promo Magneto Company (PMC), which will manufacture tin parts for Fiat's new model. Kalanovic said that EUR 60mn have been invested in the construction and equipment of PMC's unit. A total of seven Fiat suppliers have already set up production facilities in Kragujevac, three of them within the plant of FAS. More than EUR 100mn have been invested in the seven units, Kalanovic said, adding this was the biggest project in decades for the Kragujevac plant, which once produced the popular Zastava automobiles. In December, the head of FAS, Antonio Cesare Ferrara, said that Fiat's new model will be exported in Europe and the US. Back then he added the company invested EUR 720mn in 2011 out of planned EUR 950mn in preparing the grounds for the production of the new model.

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