Photo: Magneti Marelli
Not that long ago, hearsay popped up according to which Fiat Chrysler wants to sell Magneti Marelli. Now, however, FCA chief executive officer Sergio Marchionne made it loud and clear that the auto-parts division is not for sale, at least not now.
The news comes courtesy of Corriere Dello Sport. According to the Italian publication’s report on the matter, Sergio Marchionne took to the students of the Libera Universita Internazionale degli Studi Sociali Guido Carli to declare that Fiat Chrysler Automobiles is “not interested in selling Magneti Marelli, but in the mid to long term, probably, its future will be elsewhere.” In other words, the auto-parts division is definitely not for sale, nuh-uh!
This declaration is meant to end all rumors according to which FCA wants to sell Magneti Marelli as long as the price is alright. Speculative reports claimed that Samsung is the most interested of all the companies that fancy buying the Corbetta-based company. On a different note, Sergio argued that the Italo-American outfit has a good relationship with the peeps at Samsung.
When all is said and done, Sergio Marchionne’s number one priority before he leaves his chief executive officer post in 2019 is to reduce the debt accumulated by Fiat Chrysler Automobiles. Spinning off and selling Magneti Marelli S.p.A. for $4.5 billion or thereabout would’ve been the next best thing after the failed merger with General Motors and a couple of other big boys.
Founded back in 1919 under the name of Fabbrica Italiana Magneti Marelli, the auto-parts company became part of Fiat in 1967. Nowadays, Magneti Marelli employs approximately 40,000 people all around the world.
Subsidiaries and brands owned by the Italian establishment include world-renowned names such as Jaeger, Solex, Veglia Borletti, AL-Automotive Lighting, Carello, Cromodora, Mako Elektrik, Cofap, Ergom Automotive, Paraflu, Seima, Vitaloni, and, of course, carburetor manufacturer Weber.
This declaration is meant to end all rumors according to which FCA wants to sell Magneti Marelli as long as the price is alright. Speculative reports claimed that Samsung is the most interested of all the companies that fancy buying the Corbetta-based company. On a different note, Sergio argued that the Italo-American outfit has a good relationship with the peeps at Samsung.
When all is said and done, Sergio Marchionne’s number one priority before he leaves his chief executive officer post in 2019 is to reduce the debt accumulated by Fiat Chrysler Automobiles. Spinning off and selling Magneti Marelli S.p.A. for $4.5 billion or thereabout would’ve been the next best thing after the failed merger with General Motors and a couple of other big boys.
Founded back in 1919 under the name of Fabbrica Italiana Magneti Marelli, the auto-parts company became part of Fiat in 1967. Nowadays, Magneti Marelli employs approximately 40,000 people all around the world.
Subsidiaries and brands owned by the Italian establishment include world-renowned names such as Jaeger, Solex, Veglia Borletti, AL-Automotive Lighting, Carello, Cromodora, Mako Elektrik, Cofap, Ergom Automotive, Paraflu, Seima, Vitaloni, and, of course, carburetor manufacturer Weber.
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