Marchionne Says Fiat Europe Fix Needed Ahead of Chrysler Merger
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Fiat SpA, the majority owner of Chrysler Group LLC, is putting efforts to fix its European operations ahead of finishing a full merger between the two companies, Chief Executive Officer Sergio Marchionne said.
“Our primary objective right now is fixing the European environment and getting that up and running so we can restore the full Fiat level of profitability that it needs to achieve,” Marchionne said yesterday on Chrysler’s quarterly earnings conference call. Marchionne, 60, who heads both companies, said he’s still targeting a combination of them by 2015.