Fiat Chrysler to be headquartered in the Netherlands

Sergio Marchionne has announced the new name for his company will be "Fiat Chrysler Automobiles" and its headquarters will be in the Netherlands. Fiat now completely owns Chrysler.

Is this part of the "Obama saving Detroit" plan? Buying a Jeep no longer means "Buying American."

AUBURN HILLS (WWJ) - Now that Fiat has complete ownership of Chrysler, the new company has a new name and a new headquarters.

Fiat Chrysler Automobiles N.V. will be headquartered in the Netherlands, with shares traded in both New York and Milan.

“A new chapter of our story begins with the creation of Fiat Chrysler Automobiles. A journey that started over a decade ago, as Fiat sought to ensure its place in an increasingly complex marketplace, has brought together two organizations each with a great history in the automotive industry and different but complementary geographic strengths. FCA allows us to face the future with a renewed sense of purpose and vigor,” said John Elkann, Chairman of Fiat.

The changes will need to be approved by current Fiat stockholders, and the final language will need to be approved by the company’s board. The company says the transaction is expected be finalized by the end of the year.

CEO Sergio Marchionne has been assuring workers that the decision on a headquarters will have no bearing on the work done at what had been Chrysler headquarters in Auburn Hills, and at Chrysler and Fiat operations around the world.

In its statement today, the company said the headquarters decision was based “on the needs and opportunities resulting from the creation of a large, global auto group through the union of Fiat and Chrysler.”

And, according to the statement, there will not be an impact on employment.

“The existing organization based on four operating regions will remain central to the operating and management structure of the new Group. All activities forming part of FCA will continue with the same mission, including manufacturing plants in Italy and elsewhere around the globe, with no impact on headcount.”

Chrysler announcing earlier that it made $2.8 billion in 2013, a profit helped by a one time tax gain. The adjusted net income came in at $1.8 billion.

“With the release today of our preliminary 2013 financial results we have closed a remarkable chapter in Chrysler’s proud history,” read an email sent to Chrysler workers by CEO Sergio Marchionne. “Your courage and passion have restored Chrysler to being a competitive force in the auto industry and have created a strong partner with Fiat in building an exciting new global venture. You have earned the right to take pride in our achievements to date while renewing our shared commitment to strive to be the very best.”

In the email, Marchionne stated that salaried and manufacturing workers would be entitled to a performance bonus, but did not lay out an amount. Since Chrysler’s profits are smaller, and it’s formula is different, the final number is likely to be far lower than the record $8,800 checks that Ford workers will receive.

Chrysler’s global sales were up nine percent over last year. But the company was hurt by the delayed Cherokee launch. Those vehicles are now at dealerships and selling well. So, they should help 2014 earnings.

In his email, Marchionne urged Chrysler workers to embrace the global nature of the combined company.

“We need to focus on building a common future and to remove any vestiges of thinking that involves ‘us’ and ‘them.’ I ask you to continue bringing your skills and determination to make this next chapter the most rewarding one ever.”

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Oh boy--the UAW is REALLY going to have to spin this one. Buying a Jeep is no longer different than buying a Honda made in East Liberty, Ohio or a Toyota made in Georgetown, Kentucky.

I'm guessing the UAW will spew some malarkey like, "We've had a long history of being an American company" or "Americans have been building our cars for over a century."

"Buy American" has always been code for "Buy Union."

I had been waiting for this shoe to drop. The lamestream American media had been doing puff pieces on this jerk, maraschino cherry. What an opportunistic bum this jerk is (and HAS ALWAYS BEEN).

American Jeep workers, and U.S. taxpayers' dollars save Fiat (a company not worth saving IMHO), and this jerk, basically takes the money and runs. Surprise surprise surprise (not).

Ive always wondered – take a pile of parts (Domestic and foreign made) and ship them to Mexico (to the plant built with US Bailout tax money) and have them assembled by a Mexican national, and slap a GM logo on it and you have yourself an American made car worthy of all those ‘out of a job yet?’ bumper stickers

BUT – Take a pile of parts (domestic and foreign made) and send them to East Liberty OH or Georgetown KY and let an American assemble them and put a Honda or Toyota logo on them and you’re a dirty flag burner..

Please explain that thought process. and then let us know if Ram drivers can sport those 'out of a job yet?" stickers since they also produce Ram Hemi engines in Mexico, AND ram pick up trucks are assembled there...

Got to wonder who's looking out for the American Worker. But on the plus side its a foreign car now and all the unamerican tea party types can flock down to the Fiat dealership and buy another foreign car!

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

What you just wrote has no basis in fact.

Gub'ment motors built the plant in el mehico AFTER Barry and the dems took gm and gave it to the UAW, so it would appear that your demigods don't have the better interest of the fools who pay them in mind. But they'll keep kneelin, bobbin and forkin over their tithe so all is well. 5 of the top 10 "American made" cars carry foreign name plates.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Next year believe it or not, there'll be a Korean name on that list.

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