FIAT RECEIVES STATE AID APPROVAL AFTER ATTACK ON SUBSIDIES BY COMPANY BOSS
April 1st, 2009
BY KEITH NUTHALL
ITALIAN car giant Fiat is to launch a new Lancia model after being granted Euro 46 million in state aid by the Italian government. The European Commission has now authorised this handout which will be spent on retooling the company's Termini Imerese plant in Sicily. The new model will replace the existing Lancia Ypsilon, which is currently made at the factory. The aid has been approved without strings however, with the Commission concluding the subsidy (part of a planned Euro 319 million investment), meets European Union (EU) regional aid ...
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