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Industry in Southern Europe

  • Turkey; Koc, Fiat announce USD 1 bln investment

    ITALY, 2014/11/10 Tofas, the automaker owned by Turkey and Italy's Fiat, said it will invest USD 1 billion to produce three new models of cars, mainly for export, as daily Hurriyet online reports. The Bursa, Turkey-based carmaker targets the production of 1.3 million hatchbacks, station wagons and sedans between 2016 and 2023, it said in a written statement to the Public Disclosure Platform (KAP). The Turkey-based company had by presently announced last year that it would spend USD 520 million to build 580,000 units of a new sedan model.

  • Slovenia's outgoing government of Premier Alenka Bratusek

    SLOVENIA, 2014/07/07 Slovenia's outgoing government of Premier Alenka Bratusek has decided to temporarily halt all ongoing privatizations of National-owned firms until a new cabinet is sworn in. The majority significant privatizations concern Slovenian telecoms leader Telekom and Aerodrom Ljublijana, the company managing the city's airport. The government's move took a lot of by amaze, particularly Economy Minister Uros Cufer, who criticized his colleagues: ''The government has fallen into pre-electoral hysteria. There is no valid reason for this, nor plausible excuses''.

  • Industrial production +1,6% in April compared with previous year

    ITALY, 2014/06/11 Household spending increased 0.1% in the initial quarter of 2014 with respect to the last three months of 2013, Istat said Tuesday, adding that this was the initial rise since the last quarter of 2010. The national statistics agency added, however, that household spending was down 0.6% in the initial quarter compared to the same period in 2013. Consumer spending has been hit hard by the economic crisis and low request has contributed to the difficulty Italy is having in emerging from its longest postwar recession. Meanwhile, Italian industrial production increased 0.7% in April with respect to March and 1.6% on the same month in 2013, Istat said Tuesday.

  • Industrial revenues fell by 3.8% in 2013 in Italy

    ITALY, 2014/02/23 Industrial revenues fell by 3.8% in 2013 compared with the previous year, national statistical agency Istat said Thursday. At the same time, new factory orders fell by 1.3%. Revenues from industry slid by 0.3% on a monthly basis in December compared with November, due to weak request inside Italy, the agency said. Meanwhile, new industrial orders slipped in December by 4.9%, Istat said. Increase was reported in manufacturing of pharmaceutical products last year, which rose by additional than 18%, while the major drop was recorded in refining petroleum products, down by 12.4%.

  • Fiat flies on Chrysler takeover

    ITALY, 2014/01/05 Fiat stocks soared as much as 16% before the close of trading Thursday, a day next the Italian automaker announced it had gained full control of American carmaker Chrysler in a $4.35-billion transaction, raising questions at home about the next of production for Italy's biggest private corporation. The transaction was made final next additional than a year of negotiations with VEBA, a healthcare trust associated with the United Auto Workers union, to acquire the remaining 41.46% share of Chrysler. In exchange, Fiat and Chrysler will pay out $3.65 billion in cash to VEBA, sharing the cost, while Chrysler has agreed to pay it over the next three years an additional $700 million starting once the transaction closes. The transaction, which is expected to be finalized January 20, is part of a plan by CEO Sergio Marchionne to merge Fiat and Chrysler into the world's seventh-major auto group.

  • Portugal Retail Sales Rise For Second Month

    PORTUGAL, 2014/01/01 Portugal retail sales increased for the second consecutive month in November, Statistics Portugal reported Tuesday. Industrial production data revealed that output rose for the third month in a row, but the annual increase rate decelerated in November. Underpinned by food and non-food products request, retail sales turnover grew 3.6 % year-on-year, following October's 0.4 % increase. Food product sales surged 4.8 % annually, faster than the 1.1 % rise in October. At the same time, non-food sales recovered, up 2.7 % next falling 0.1 % a month ago.

  • New orders in the Italian industrial sector contracted

    ITALY, 2013/09/21 New orders in the Italian industrial sector contracted for the ninth successive month in July, but at a slower rate than in the previous month, a statement released by statistical office Istat showed Friday. New business received by Italian firms, on an unadjusted basis, decreased 2.2 % on an annual basis in July, slower than the 4.2 % fall seen a month before. Request has decreased each month since October 2012. With a 21.1 % year-on-year decrease, manufacturers of transport equipment recorded the biggest fall in request. Meanwhile, orders of textiles, clothing, leather and accessories increased 10.8 % annually, marking the biggest increase.

  • Italian carmaker Fiat

    ITALY, 2013/08/24 Italian carmaker Fiat means to cooperate with Serbian steelworks Smederevo from which it could buy metal plates for 500,000 vehicles on an annual basis, Serbian Finance Minister Mladjan Dinkic said Thursday during a visit to the Fiat plant in Kragujevac, central Serbia, local media reported Friday. Dinkic said the chief of Fiat Serbia, Antonio Cesare Ferrara, gave him a letter on the issue by Fiat Group vice president Alfredo Altavilla. 'New investments to support steelworks are necessary for this cooperation' said Dinkic. The large steelworks of Smederevo, next US Steel left the venture, is looking for a new foreign partner to return to full production.

  • Greek-Turkish consortium for a casino on Chios

    GREECE, 2013/06/24  Foreign business groups have expressed interest in the operation of new casinos in Greece, Kathimerini online reports. According to sources, such proposals have come from a Greek-Turkish consortium for a casino on Chios, British and Israeli entrepreneurs for Crete, a groups with British and other funds for Atalanti in central Greece, and an American fund for Myconos. Meanwhile the total financial figures of the country's nine casinos are continuing to chief south. For the period from January to May, their turnover showed a yearly decline of 13.4%, reaching 121.8 million euros.

  • Portuguese car parts company opens factory in Dalian, China

    CHINA, 2013/05/18 The Dalian factory, in northeast China, of Portuguese car components group Sodecia was inaugurated Wednesday, following an investment of 20 million euros, Portuguese news agency Lusa reported. Sodecia Dalian, which has around 200 workers, produces components for car transmissions, in this case for the Volkswagen group unit in that northern Chinese city.
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