Monday, August 30, 2010

Chrysler may create a factory in Russia

Italy will use the visit of Russian President Dmitry Medvedev to expand ties with Russia, including a possible deal for the production of Chrysler models from Fiat SpA in the country as part of a “strategic partnership” between the two countries. Fiat and Russian automaker Sollers “discuss important investments for the production of cars carrying the production of Chrysler in Russia,” said Italian Industry Minister Claudio Skayola, cited by Bloomberg. Fiat has a controlling stake in U.S. company. It is envisaged that more transactions to be concluded between Finmeccanica SpA and Sukhoi aviation holding company, and between Eni SpA and Gazprom for pipeline project South Stream. Italy has long been cooperating with Moscow, which has earned both profitable contracts, and criticism from its NATO partners. Eni signed its first treaty with the Soviet Union in 1958 and since 1991 continues to build its relations with Russia, creating a partnership with Gazprom.

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