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Wynne 'taken aback' by Chrysler decision to bail on potential government funds

TORONTO - Ontario was blindsided by Chrysler's abrupt decision to bail on a potential deal that could have seen hundreds of millions of government dollars used to upgrade two of its plants, Premier Kathleen Wynne said Wednesday. Chrysler Canada had asked Ontario and Ottawa for a reported $700 million as part of a $3.6-billion dollar investment in two plants in the province.

Chrysler halts appeal for Canadian funds, will still invest in plants

By Susan Taylor and Bernie Woodall TORONTO/DETROIT (Reuters) - Chrysler Group LLC said on Tuesday that it would push ahead with development plans for two key assembly plants in the Canadian province of Ontario, but will keep its "strategic options" open after withdrawing requests for government funding.

Chrysler commits to Ontario plants, but withdraws request for government aid

TORONTO - A decision by Chrysler Canada to commit to bringing a new minivan assembly line to Windsor, Ont. was greeted with caution Tuesday, as the auto giant said it was no longer looking to the federal and Ontario governments for funding. The car maker said in a statement that it will bring the new minivan line to the Windsor plant, while its facility in Brampton, Ont., will also "benefit" with "substantial product interventions" that will come to market as early as the second half of this year. No further details were made available.

Fiat-Chrysler expects new plant to boost Brazil profitability

By Agnieszka Flak GENEVA (Reuters) - Fiat Chrysler Automobiles (FCA) <FIA.MI> expects a new plant in Brazil to boost its profitability in that market by 2017 after a cut to subsidies and currency effects hit profits there last year, Chief Executive Sergio Marchionne said on Tuesday.

Carmakers fear emerging markets gloom could overshadow European rebound

By Laurence Frost GENEVA (Reuters) - French carmaker Renault <RENA.PA> has trimmed its growth forecast for the global market this year as the industry becomes increasingly worried about volatile emerging markets just when demand in Europe is starting to pick up. Renault's sales chief Jerome Stoll said at the Geneva auto show on Tuesday the group now expects global vehicle sales to rise by slightly less than the 2 percent previously forecast.

Fiat-Chrysler to keep Alfa Romeo production in Italy: CEO

GENEVA (Reuters) - Fiat Chrysler <FIA.MI> will keep the production of its Alfa Romeo, Maserati and Ferrari car brands in Italy, Chief Executive Sergio Marchionne said on Tuesday. "It's not a nationalistic thing, but there are some things that belong to a place," Marchionne told journalists at the Geneva auto show, adding that at least in his time as CEO the sporty Alfa cars will be assembled in Italy. "Alfa Romeo belongs to Italy as Maserati and Ferrari do."

Fiat's UK-style revival plan faces Italian hurdles

By Agnieszka Flak and Laurence Frost MILAN/PARIS (Reuters) - Idle plants, surly unions and a weak, ageing model line-up - the challenges facing Fiat Chrysler's <FIA.MI> Italian revival sound a lot like the British car industry's low point in 1982. CEO Sergio Marchionne will be hoping the similarities don't end there as he orders up sporty new Alfa Romeos and sleek Maseratis in a bid to repeat in Italy what British brands like Mini and Jaguar have since achieved under foreign ownership.

Fiat's access to Chrysler funds curbed by div cap, debt covenants

MILAN (Reuters) - Italian carmaker Fiat <FIA.MI> said on Monday that its access to finances of its U.S. unit Chrysler, of which it took control last month, was restricted by a cap on dividend distributions and debt covenants. "Among the most significant is a cap on dividend distributions, other than distributions in respect of taxes, governed by a builder-basket equal to 50 percent of accumulated net income from January 1, 2012, in addition to a one-time basket of $500 million," Fiat said in a statement.

Fiat seeks to turn financing unit into a bank: source

MILAN (Reuters) - Fiat <FIA.MI>, which has agreed to take full control of U.S. unit Chrysler, has asked the Bank of Italy's permission to turn financing unit Fga Capital into a bank to cut funding costs, a source with direct knowledge of the situation said.

Fiat seeks to turn financing unit into a bank: source

MILAN (Reuters) - Fiat <FIA.MI>, which has agreed to take full control of U.S. unit Chrysler, has asked the Bank of Italy's permission to turn financing unit Fga Capital into a bank to cut funding costs, a source with direct knowledge of the situation said.
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