Ford, Fiat to Merge Some Units: Ford...
From Times Staff and Wire Reports
Ford, Fiat to Merge Some Units: Ford Motor Co. and Italian auto maker Fiat SpA signed definitive agreements to merge their farm and industrial machinery units and form a new company headquartered in London. The move follows an announcement earlier this year that the companies planned to merge Ford New Holland and FiatGeotech. Fiat will have an 80% stake in the new company. Ford, with 20%, receive an undisclosed cash payment from Fiat.
