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BORSA ITALIANA
EUR 14.362 -0.15 %
NYSE
USD 16.45 -0.78 %
Search

Fiat Group completes acquisition of VM Motori

Following receipt of regulatory approvals, Fiat Group Automobiles’ acquisition of the 50% stake in VM Motori S.p.A. held by General Motors is now complete. The purchase consideration was €34.1 million. Fiat Group acquired an initial 50% stake in VM in 2010 and now has 100% control. The purchase has been implemented following the exercise of a put option by General Motors, after several years of fruitful cooperation.

Established in 1947, VM is specialized in the production of advanced diesel engines. Its plant located in Cento, in north-east Italy, covers an area of 85,000 square meters and employs approximately 1,150 people.

VM produces around 90,000 engines per year for customers such as Jeep, Chrysler, Lancia and LTI (London Taxi). A VM engine, the most powerful in its class, also powers the first ever diesel model just launched by Maserati.

VM also supplies engines to a number of large customers from other sectors – including industrial, agricultural and marine – based on the core technologies developed for the auto sector.

Turin, 28 October 2013

  • Fiat Group completes acquisition of VM Motori