Official communiqu of Chrysler

Surfing I found the Chrysler official statement on the alliance with Fiat. It is quite clear and helps us a lot to all who love and follow their brands, to know the future of the company. Were left for them to read and fix that, we the consumer end, we have nothing to worry about: Chrysler LLC and the Fiat Group Announce a Strategic Alliance To form a New World Company Vibrating April 30, 2009 .- Chrysler LLC announced today that as a result of a comprehensive plan restructuring agreed with many of its trading partners, has signed a agreement in principle to establish a global strategic alliance with Fiat SpA to form a vibrant new company.This will allow Chrysler Group and Fiat fully optimize their respective presence and manufacturing base global suppliers, and at the same time providing reciprocal access in their respective markets. The Fiat powertrains and others will also produced in manufacturing centers of Chrysler. “This partnership will transform Chrysler into a vibrant new company with a wealth of strategic advantages, “said Bob Nardelli, Chrysler Chairman and CEO LLC. “It will allow us to better serve our customers and distributors with a wide more competitive product line and friendly environment through vehicles with high quality and efficient fuel consumption. Benefits This new company will include access to exciting products that complement our current portfolio, our technology cooperation and a stronger worldwide distribution. Chrysler began talks with Fiat over a year to develop plans for a global alliance of products. In recent months, these meetings have evolved and expanded. Chrysler and its trading partners have worked tirelessly to reach an agreement on concessions that will generate basis of significantly lower costs and enable the achievement of an alliance greater strategic impact. “We want to personally assure everyone that this new company will produce and support the manufacturing of quality vehicles with the brands Jeep, Dodge and Chrysler and parts under the Mopar brand. Chrysler employees will be employees of the new company. Chrysler dealers will remain open to serve our customers.All warranties of the vehicles will be respected without interruption and consumers can continue buying our cars with confidence, “said Nardelli. Despite substantial progress on many fronts, Chrysler could not obtain all the necessary concessions from all its creditors, which could have avoided the need for a process restructuring. As a result, under the direction of the Department of Treasury United States, Chrysler LLC and 24 of its subsidiaries in the United States, filed a voluntary request under Chapter 11 of the Code Restructuring in the Court of the Southern District of New York. “Even if a full agreement was not possible, I am extremely grateful for everything has been sacrificed on the part of Chrysler’s trading partners to reach an agreement with Fiat, “said Nardelli.”My first priority has been the Chrysler and save thousands of people who depend on their success. While I’m excited about creating a global alliance, I am personally disappointed that Chrysler has sought Chapter 11. This was not my first option. Chrysler also will file a petition under section 363 of the Code Restructure requesting an expedited approval by the Court of the agreement with Fiat and sale of major assets to the new company Chrysler.

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