Marchionne talking about Chrysler

Posted on Thursday, 5 February 2009 , 08:02:42 byEmil

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Marchionne talking about Chrysler

Sergio Marchionne, revered chief executive of Italian carmaker Fiat, affirmed that struggling Chrysler LLC - Michigan automaker, has some options contributing to the long-term viability something different from entering in the proposed agreement with his firm.

Marchionne's in Detroit meeting with Chrysler executives for discussing the alliance with Chrysler. 'We can help them' Marchionne reported to the Detroit Free Press. 'I haven’t seen a lineup of people at the door trying to take us out of this deal'. The greatest hurdle will make Chrysler quite capable of upholding all the terms of the 4 billion Dollars federal requiring Chrysler to be on a profitability track by the end of March. 'We have an exclusive nonbinding agreement with Fiat, so it would be inappropriate to comment' on Marchionne's remarks, affirmed Lori McTavish Chrysler spokeswoman.

He stated there would be now 'no seepage of liquidity' between carmakers. 'Fiat will not take any cash out of Chrysler not on the basis of the deal that we structured today, and certainly not until all taxpayer funds have been repaid'. 'It normally would take almost three years to develop some of these platforms for $1 billion to $1.5 billion' Nardelli said on a video message in the firm's Web site previous week. 'It needs to stand up on its own two legs' Marchionne affirmed. 'If it doesn’t, we won’t play'.