Fiat JV In Serbia Boosts Government Expectations

Italian automaker Fiat, which had agreed to acquire a 70% stake in Zastava with an investment of EUR700mn, will be signing the final deal on 29 September to kick start the new joint venture (JV) between the carmaker and the Serbian government. The JV is expected to produce 200,000 cars in 2009 and increase to 300,000 by 2010, most of which will be exported to neighbouring markets.

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