Maranello (Italy), 12 December 2019 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) announces that it has signed on 11 December a Euro 350 million unsecured committed revolving credit facility, intended for general corporate and working capital purposes (the “New RCF”). The New RCF, entered into with a group of twelve banks, has a… Continue reading @Ferrari: Ferrari N.V. signs a new syndicated revolving credit facility
Tag: FCA
Auto workers OK labor deal at Fiat Chrysler
New York (CNN Business)Auto workers at Fiat Chrysler have ratified a new four-year contract, closing the door on the possibility of another strike like the one that shut down rival General Motors for six weeks.Fiat Chrysler (FCAU) made far greater use of those relatively new hires and their lower pay scale than its rivals did, giving the company a competitive cost advantage over GM (GM) and Ford (F).The 40-day walkout at GM earlier this fall cost the automaker an estimated $2.9 billion, but despite inflicting those costs on GM the strikers did not convince the automaker to drop plans to close three US factories.
UAW workers ratify labor contract with Fiat Chrysler; bargaining ends for 2019
CLOSE Fiat Chrysler Automobiles workers have approved a new four-year labor contract, officially bring to a close 2019 contract bargaining between the UAW and Detroit Three. (Photo: Kimberly P. Mitchell, Detroit Free Press) Fiat Chrysler Automobiles workers have a new labor contract. Almost five months after talks officially launched with ceremonial handshakes between the UAW… Continue reading UAW workers ratify labor contract with Fiat Chrysler; bargaining ends for 2019
Lawyer: GM suit against FCA will cost automakers hundreds of thousands of dollars
CLOSE Lawyer Bruce Sendek has been around a long time, including a four-year stint with General Motors’ corporate counsel in the late 1970s and early ’80s. But he’s never seen anything like GM’s lawsuit against crosstown rival Fiat Chrysler Automobiles. Sendek had a lot of questions, that started at word one — literally. “I do not necessarily accept on face… Continue reading Lawyer: GM suit against FCA will cost automakers hundreds of thousands of dollars
@FCA: New UAW-FCA Collective Bargaining Agreement Expands Commitment to U.S. Manufacturing Operations With Investment and Jobs
December 11, 2019 , Auburn Hills, Mich. – FCA confirmed today that its UAW-represented workforce has ratified a new four-year collective bargaining agreement that builds on the Company’s commitment to grow its U.S. manufacturing operations by providing for total investments of $9 billion and the creation of 7,900 new or secured jobs. “We wouldn’t be the… Continue reading @FCA: New UAW-FCA Collective Bargaining Agreement Expands Commitment to U.S. Manufacturing Operations With Investment and Jobs
Fiat Chrysler’s UAW members ratify new four-year contract
DETROIT (Reuters) – The United Auto Workers (UAW) union said on Wednesday that rank-and-file members at Fiat Chrysler Automobiles NV (FCHA.MI) have voted in favor of a new four-year labor contract with the automaker, helping the Italian-American firm avoid a strike as it works to merge with France’s Groupe PSA (PEUP.PA). FILE PHOTO: A Fiat… Continue reading Fiat Chrysler’s UAW members ratify new four-year contract
New UAW-FCA Collective Bargaining Agreement Expands Commitment to U.S. Manufacturing Operations With Investment and Jobs
AUBURN HILLS, Mich., Dec. 11, 2019 /PRNewswire/ — New agreement builds on Company’s success with $9 billion in investment and creates 7,900 new or secured jobs FCA has created more UAW-represented jobs than any other OEM and exceeded investment commitments since 2015 agreement FCA confirmed today that its UAW-represented workforce has ratified a new four-year… Continue reading New UAW-FCA Collective Bargaining Agreement Expands Commitment to U.S. Manufacturing Operations With Investment and Jobs
As Ford, Chevy exit sedan market, Asian makers gain share
Phoenix — A year after Ford and Chevrolet abandoned the compact-car segment to prioritize SUVs, buyers are abandoning those makes and shopping for cars made by Hyundai, Toyota and Honda. Some 42% of Ford Focus and Chevy Cruze compact car owners have stayed in the compact car segment with a significant percentage buying competitors’ vehicles, according to an industry… Continue reading As Ford, Chevy exit sedan market, Asian makers gain share
11 Dec 2019 GKN Automotive launches strategy to make electric propulsion mo…
Standardised electric drive systems with highly integrated inverters and motors aim to make electrification affordable for automakers and consumers Three new families of modular, scalable eDrive systems will provide affordable electrification options in all torque classes Full details in GKN Automotive’s newly released technology strategy report, Making Electric Propulsion More Competitive GKN Automotive has today… Continue reading 11 Dec 2019 GKN Automotive launches strategy to make electric propulsion mo…
Magna Powers Ferrari SF90 Stradale With Innovative Dual-Clutch Transmission
Transmission developed in cooperation with Ferrari Reduced weight and CO2 emissions Higher torque delivers superior performance TAGSDual-clutch transmission, plug-in hybrid powertrains, hypercars MEDIA CONTACTS Tracy Fuerst, Global Director of Corporate Communications & PRtracy.fuerst@magna.com, (+1) 248.631.5396 ABOUT MAGNA We are a mobility technology company. We have more than 166,000 entrepreneurial-minded employees and 346 manufacturing operations and… Continue reading Magna Powers Ferrari SF90 Stradale With Innovative Dual-Clutch Transmission