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Poland confirms Fiat to invest $773 mln in its Polish plants
May 20, 2014 / 11:01 AM / 3 years ago

Poland confirms Fiat to invest $773 mln in its Polish plants

WARSAW, May 20 (Reuters) - Italian carmaker Fiat plans to invest around 2.36 billion zlotys ($773 million) to upgrade its factories in southern Poland where it plans to start the production of a new model, Polish government confirmed on Tuesday.

Polish media reported earlier this month that the investment should be made by the end of 2017 and would include upgrading production lines, as well as new technology purchases.

The Italian carmaker is to hire 420 new employees on top of the the 3,000 it currently has in Poland. Some 96 percent of the production is to be exported, among other to North America. ($1 = 3.0533 Polish Zlotys) (Reporting by Adrian Krajewski)

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