September 18, 2012 / 5:36 AM / 7 years ago

Fiat CEO will not close Italian factory-press

MILAN, Sept 18 (Reuters) - Fiat Chief Executive Sergio Marchionne said the Italian automaker will not close any of its six Italian factories despite a plunging domestic car market, responding to calls for clarity about Fiat’s future investment plans.

Marchionne defended his decision to cut back on Italian investment, which has come under renewed criticism in recent days. He was speaking in a question and answer interview with the editor of Rome daily La Repubblica.

The executive, who shuttles back and forth between Detroit, where he manages Chrysler, and Fiat’s headquarters in Turin, said the company was committed to maintaining operations in Italy.

“We’re not talking about plant closures, I am simply saying that the car market right now does not enable us to make investments that would guarantee that the company remains a going concern,” he said.

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