MUMBAI (Thomson Financial) - Fiat SpA said it plans to buy components worth
8.5 billion euros for its plants from best cost countries (BCC) including India
and China by 2010, to help achieve 2007-10 growth and margin expansion plans.
At the launch of the group's purchasing office in India, Gianni Coda, chief
executive of Fiat Group Purchasing Italy, said this office in New Delhi will be
responsible for the BCC purchasing for all Fiat sectors like Fiat Group
Automobiles, CNH, IVECO and FPT (Fiat Powertrain Technologies).
This development is in line with the group's strategy to integrate the
purchasing function of all of its sectors globally from January 1, it said in a
statement.
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