Alfredo Altavilla News
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General Motors Co., the world’s largest automaker, plans to begin taking orders in April on pickups that run on both gasoline and compressed natural gas, potentially reducing costs for users.
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Chrysler Group LLC, the automaker controlled by Fiat SpA, plans to begin selling natural gas- powered pickups in the U.S. this year, said Sergio Marchionne, chief executive officer of both automakers.
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Sergio Marchionne, chief executive officer of Fiat SpA and Chrysler Group LLC, signaled how important the U.S. market is to the carmakers by keeping direct control of North American operations under the single management team he announced today for the two companies.
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As Sergio Marchionne brings back Fiat SpA to the U.S. after nearly three decades, he may add another Italian speciality: the natural gas engine.
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The following companies’ share may have unusual moves in European trading. Stock symbols are in parentheses.
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Alfredo Altavilla , head of Fiat SpA ’s powertrain division, will replace Paolo Monferino as chief executive officer of the Iveco truck unit that’s being spun off from Italy’s largest manufacturer.
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Traders of Fiat SpA shares are bracing for a “crazy” day on Monday, when investors assign their first value to the two stocks formed from the biggest reorganization in the carmaker’s 111-year history.
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Chrysler Group LLC, the U.S. automaker majority-owned by Fiat SpA, named two new directors and elected Sergio Marchionne, chief executive officer of both automakers, as Chrysler’s chairman.
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Fiat SpA sees natural gas propulsion as a “near-term environmental solution” also for the U.S. as it has “less expensive production, transportation and distribution” than hybrid and electric engines, according to the slide presentation of a speech by Fiat’s executive Alfredo Altavilla at a conference in Paris today.
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Italy’s benchmark FTSE MIB Index ended a five-day gain, falling 87.49, or 0.4 percent, to 20,750.22 at the 5:30 p.m. close in Milan.
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