Q:
A:
Joint company Fiat Automobili Srbija set up
Belgrade,
14 October 2008
The Serbian government stated that a joint company Fiat Automobili Srbija was founded today and its head office situated in Kragujevac, adding that the new company has been booked at the Business Registers Agency.
The statement adds that Serbia owns a 33% share in the new company and Fiat Group the remaining 67% of the capital.
The company’s initial capital is €700,000, of which Fiat Group will contribute €469,000 while Serbia today paid in €231,000 in dinar equivalent value.
Fiat Group will pay the remaining portion of the initial capital by spring 2009 at the latest, in line with the agreement on joint investment, signed on September 29 this year.
Fiat’s total input into the new company will be €200 million in cash. Serbia’s input will be €50 million in cash and €50 million in equipment and rights.
The founding and registration of the joint company was preceded by a session of the Serbian government held via telephone at which the basis of an agreement on joint investment between Serbia and Fiat, the contract for founding a joint company for the production of cars, “Fiat Automobiles Serbia” based in Kragujevac, was approved.
The management board of the joint company has seven members. Two of these members, advisor to the Serbian President Biserka Jeftimijevic Drinjakovic and Advisor to the Serbian Deputy Prime Minister Luka Andric are Serbian representatives.
The other five members are Fiat representatives – Fiat chief executive Alfredo Altavilla, director of the newly formed company Fiat Automobiles Serbia Giovanni De Filippis, Fiat head of manufacturing Stefan Ketter, Fiat chief financial officer Richard Palmer and Fiat director of international operations Silverio Bonfiglioli.
The company’s initial capital is €700,000, of which Fiat Group will contribute €469,000 while Serbia today paid in €231,000 in dinar equivalent value.
Fiat Group will pay the remaining portion of the initial capital by spring 2009 at the latest, in line with the agreement on joint investment, signed on September 29 this year.
Fiat’s total input into the new company will be €200 million in cash. Serbia’s input will be €50 million in cash and €50 million in equipment and rights.
The founding and registration of the joint company was preceded by a session of the Serbian government held via telephone at which the basis of an agreement on joint investment between Serbia and Fiat, the contract for founding a joint company for the production of cars, “Fiat Automobiles Serbia” based in Kragujevac, was approved.
The management board of the joint company has seven members. Two of these members, advisor to the Serbian President Biserka Jeftimijevic Drinjakovic and Advisor to the Serbian Deputy Prime Minister Luka Andric are Serbian representatives.
The other five members are Fiat representatives – Fiat chief executive Alfredo Altavilla, director of the newly formed company Fiat Automobiles Serbia Giovanni De Filippis, Fiat head of manufacturing Stefan Ketter, Fiat chief financial officer Richard Palmer and Fiat director of international operations Silverio Bonfiglioli.
-
Belgrade, 10 July 2025State of natural disaster declared in five cities, 11 municipalities
-
Belgrade, 9 July 2025Commission for repair of damage caused by fires in Serbia formed
-
Belgrade, 3 July 2025Government sets enrolment quotas for state faculties
-
Belgrade, 28 June 2025New unit of Kostolac power plant receives occupancy permit on St. Vitus Day
-
Belgrade, 21 June 2025Bill on Information Security adopted
-
Belgrade, 17 June 2025Government taking all measures to ensure safety of Serbian citizens in Israel, Iran
-
Belgrade, 12 June 2025Decree on incentives for employment of newly settled individuals terminated
-
Belgrade, 5 June 2025Bills adopted to amend two media laws
-
Belgrade, 29 May 2025Opening of seasonal border crossing for international air traffic in Kragujevac
