September 11, 2007 / 12:48 PM / 11 years ago

Fiat, Severstal in industrial, sales joint venture

MILAN, Sept 11 (Reuters) - Italian car maker Fiat FIA.MI and Russian company Severstal Auto have launched a commercial and industrial joint venture including sales and marketing of Fiat marques in Russia, Fiat said in a statement on Tuesday. Fiat said each company would have 50 percent of the venture and Fiat will decide the product range. The new Fiat Linea will begin production in the first quarter of 2008 at a plant in Russia, Fiat said.

The Italian company already has an agreement with Severstal to produce diesel engines in Russia and Severstal makes Albea saloons and Doblo minivans with Fiat.

((Milan newsroom +39 02 66129 507, fax +39 02 801 149, milan.newsroom@reuters.com))

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