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Industry: Email Alert RSS FeedFiat recovering despite uncertainty; Analysts focus on group's high debt, shareholder structure.(News)
Automotive News Europe, May, 2004 by Ciferri, Luca
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Byline: Luca Ciferri
Fiat's promising recovery came under threat last week from shareholder uncertainty and worries over high corporate debts.
The Italian automaker said it is on track to reach breakeven as a group, despite a 21-day strike that will cost [euro]40 million to [euro]50 million in operating profit during the second quarter.
"But this won't change our plan to reach operating breakeven at a group level for the full year," said Fiat group CEO Giuseppe Morchio.
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In the first quarter of 2004, Fiat reduced its operating losses 64 percent on improved ...
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