Fiat plans to invest $216 million over three years, primarily to revamp Bertone's Grugliasco production facility to build vehicles for Europe and the U.S.
Stile Bertone, the design firm, remains under the control of the Bertone family.
Over the past century, Bertone has designed such notable vehicles as the Lamborghini Miura, the Alfa Romeo Giulietta Sprint and the Fiat X1/9. It has done contract design work for many other automakers, including Citroën, Ferrari, Mercedes-Benz, Skoda, Volkswagen and Volvo.
Fiat announced its intention to bid on Carrozzeria Bertone in mid-July. Rival bids were submitted by several Italian entrepreneurs, by Nuccio Bertone's widow, Lilli, and by China's FAW Group.
Fiat previously has taken control of a number of Italian auto companies, including Autobianchi (1968), Lancia (1969), Ferrari (1969), Alfa Romeo (1986) and Maserati (1993).
Earlier this year, Fiat acquired a minority interest in and management control of Chrysler and is in the process of consolidating vehicle platforms, components and manufacturing facilities between the two companies.
Inside Line says: The Marchionne empire continues to expand. — Paul Lienert, Correspondent
Add A Comment »