ALFA ROMEO DISTRIBUTION COMPANY IN NORTH AMERICA TO BE WHOLLY OWNED BY FIAT; PRESENT JOINT VENTURE WITH CHRYSLER TO END
ALFA ROMEO DISTRIBUTION COMPANY IN NORTH AMERICA TO BE WHOLLY
OWNED BY FIAT; PRESENT JOINT VENTURE WITH CHRYSLER TO END
NEW YORK, Nov. 15 /PRNewswire/ -- Fiat Auto SpA, the automobile subsidiary of Fiat Group (NYSE: FIA), and the Chrysler Corporation (NYSE:C) announced today the end of their joint venture to distribute Alfa Romeo cars and parts in North America. Fiat has agreed to continue the responsibility for distribution of Alfa Romeo products in the United States and Canada through ARDONA, now a wholly owned unit of Fiat Auto.
Both Fiat Auto and Chrysler stressed that the sales and service of Alfa Romeo cars will continue through the Alfa Romeo dealership network in the United States and Canada.
Fiat Auto and Chrysler noted that the decision to terminate the joint venture was amicable and that they will continue to consult each other in the future on matters of mutual interest and benefit.
Alfa Romeo is encouraged by the positive customer response to the present models distributed in North America, in particular to the Alfa Romeo 164 luxury sedan, praised for its sporty performance and elegance.
/CONTACT: Gualberto Ranieri of Fiat USA, Inc., 212-207-0947; or Tom Houston of Chrysler, 313-252-8790/
(FIA C) CO: Fiat Auto SpA; Chrysler Corporation ST: New York, Michigan IN: AUT SU: JVN JT -- NY027 -- 1470 11/15/91 11:00 EST