AMSTERDAM – The question alliances “we should not go blindly, we need to analyze in a rational, precise, articulate. We must not make the braggarts “.So the CEO of Fca Sergio Marchionne answered reporters.
” You have to give information to the market because it understands the feedback to do. You can not go blindly and shoot numbers without understanding the potential benefits, “he added. “As a leader in the auto industry we have the task of leaving behind our particular interests and to address the major issue of overcapacity,” Marchionne said.
“This industry has historically always destroyed value. In 2009 – said the CEO of Fca – the US government has tried to solve the problems of an industry suffering from overcapacity and structural deficiencies, but did not address the ultimate objective of which was the cost of capital because this is a problem involving the industry. Excluding manufacturers in the premium segment, the industry has proven to not be able to remunerate the cost of capital. This is a very important problem. The second phase of this process is to recognize that there are many duplications in the auto industry that do not lead to gain market share and create competitive conditions that are unjustified and do not give earnings. I do not understand why other industries as they have already figured out and we do not. “
” It is not my fault, nothing to do with anything. “ With this joke the CEO of Fca Sergio Marchionne replied to journalists asking the clash between the Volkswagen, the chairman of the supervisory board Ferdinand Piech and CEO Martin Winterkorn. “I do not even know if it’s true, I’m looking like everyone,” he simply said Marchionne.
“About time you saw them, I do not know yet the new secretary general CISL and UIL. ” So the CEO of Fca Sergio Marchionne responded to reporters who asked him why he decided to meet with the unions at the Lingotto immediately after the shareholders’ meeting convened tomorrow in Amsterdam. The numbers one of the CISL, UIL and Annamaria Furlan, Carmelo Barbagallo took the reins just their organizations and have not ever met Marchionne.
“I hope that the situation in Turkey not the worst and it stops here. We do not want the country to be isolated, as it has significant problems at the border. ” Lo said the CEO of Fca Sergio Marchionne responding to journalists about the possible impact on the joint venture in Turkey, Tofas.
“The level of credibility of Italy reached levels did not exist before the Jobs Act. The country is changing, it is going in the right direction, it has become more attractive to investors even though there are still many things to fix. ” Lo said the CEO Sergio Marchionne Fca. “It also helps us because we can not be just to invest in this country,” he added.
The Assembly of Fca be held tomorrow in Amsterdam, but this “does not mean that the commitment of the group has declined in Italy, indeed .. “. So the CEO of Fca, Sergio Marchionne, who spoke to reporters at the end of the mini-assembly of CNH Industrial, lasting about an hour, he added: “Nothing has changed. This is the first meeting of Fca outside of Italy, but it is also the first Chrysler outside the US. “
” I do not think we will go over 10%. We are still evaluating. ” So Sergio Marchionne, CEO of Chrysler and Fca-Ferrari president responded on the share of Ferrari that will go on the stock exchange. As for the timing of the IPO Ferrari, Marchionne said that “the filing will be filed in the second quarter and the placement will take place in the third.” Marchionne spoke to reporters at the end of the shareholders of CNH Industrial.
“We are confident because we have people and the right products to win the competition in our markets together with the determination to create a long-term value for shareholders of CNH Industrial “, indicated Marchionne, who also pointed to” the ambitious five-year plan “presented last year in May in Detroit. The MD. Richard Tobin has shown during The details of the budget in 2014 and said that “the level of efficiency of the group, announced in July 2014, will help to maximize productivity through our global operations, and align our manufacturing capacity reflecting demand of the current market and the future. “
The 2015 continued Tobin, will ” a challenging year for CNH Industrial, as we expect the market demand in our largest sector , that of agricultural machinery, will be negatively impacted by a significant reduction in the prices of agriculture globally. ” To address this challenge, he said Tobin, “we have taken steps to cut costs, but we always aim to maintain our leadership in this market.”
Tobin estimated this year “a improvement in profitability for the divisions Commercial Vehicles and Construction Equipment, an improvement in structural costs and a decline in the cost of research and development. ” These initiatives, however, “does not balance out completely the continuing negative impact of the commercial difficulties in the agricultural sector and the negative impact on the group’s accounts related to the recent appreciation of the dollar.”
Tobin also noted that CNH Industrial plans to cut costs this year compared to 2014 and that its net industrial debt totaled $ 2.7 billion at the end of last December, will benefit from initiatives to realign the stock to new market demand, particularly in the agricultural sector. “The shareholders of CNH Industrial NV held today in Amsterdam, has approved the annual financial report for the year 2014 together with the proposal to distribute a dividend of EUR 0.20 per ordinary share, representing a total dividend of about 272 million euro. ” This is what it said in a note to CNH Industrial.
“The shareholders also re-elected all 11 administrators who were already members of the Board of Directors until the date of , namely re-elected Messrs Sergio Marchionne and Richard J. Tobin, which the executive directors, and Messrs John P. Elkann, Mina Gerowin, Maria Patrizia Grieco, Léo W. Houle, Peter Kalantzis, John Lanaway, Guido Tabellini, Jacqueline Bakker Tammenoms and Jacques Theurillat, such as non-executive directors, “continues the statement.
” The shareholders also authorized the Board of Directors to purchase ordinary shares. The authorization is for a maximum number of common shares equal to 10% of the ordinary shares of the Company outstanding as of today. This authorization does not entail any obligation for the Company to purchase its own ordinary shares and must therefore be regarded as an opportunity to provide the Board of Directors. According Shareholders’ authorization, purchases may be made, for a period of eighteen months from today, in the manner permitted by applicable law and at a price that does not exceed 10% of the reference price at the stock market used – the New York Stock Exchange (NYSE) and / or the Electronic Stock Market (MTA), “the statement concludes.
It runs on the Stock Exchange CNH (+ 4.69% to 8.09 euro) after a freeze upward, on the day of the shareholders. President Sergio Marchionne, CEO of Fca, announced that the group that produces heavy vehicles, agricultural and earthmoving looks “to opportunities in the agricultural machinery sector.”
“It’s the right time – he added – to expand our business against the slowdown in the sector. ” For now, said the manager, there is “nothing concrete, but the process of scouting goes on.”
The unions expect the meeting tomorrow afternoon in Turin with the CEO. of Fca, Sergio Marchionne, the focus will be on European plants and on how it is going forward the implementation and completion of investments in Italy, in particular, the plan provided for the revival of the Alfa Romeo. Furthermore we expect an opening on a renewal of wage agreements in the meeting of April 17 after cessation of negotiations last December.
So Ferdinand Uliano, national secretary FIM-CISL, he expects that in the meeting tomorrow with Marchionne ‘disclosure of the Alfa models and where they are located. We think that the site of Cassino will be one of the most involved. Then there is the issue of Mirafiori, where at the end of the year should be produced SUV Maserati Levante. “
Uliano added that” we would like that Pomigliano had full employment to 2018 ‘, at the end of the five-year business plan announced in the US last year. As for the meeting between the unions and the company planned April 17 on the renewal of wage contracts, Uliano said: “We expect that the company saw an opening show improvement” of the situation.
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