AUBURN HILLS, Michigan - In the news release, Chrysler LLC Statement in Response to the
Announcement by the Administration, U.S. Treasury and President’s Auto Task
Force Attributed to Chrysler LLC Chairman and CEO, Bob Nardelli, issued today
by Chrysler LLC over PR Newswire, we are advised by the company that the
second paragraph, first sentence, should read “… Chrysler, Fiat and
Cerberus have reached agreement on the framework of a global alliance” rather
than “… Chrysler, Fiat and Cerberus have reached agreement on a global
alliance” as originally issued inadvertently. The complete, corrected release
follows:
AUBURN HILLS, Michigan, March 30 /PRNewswire/ –
Today marks an important milestone for Chrysler LLC. We are encouraged by
the commitments of the Administration, U.S. Treasury and President’s Auto
Task Force to the American automobile industry and Chrysler’s viability, with
a Fiat alliance.
We are pleased that Chrysler, Fiat and Cerberus have reached agreement on
the framework of a global alliance, supported by the U.S. Treasury. Chrysler
has consistently said that the alliance with Fiat enhances its business model
that expands its global competitiveness. We appreciate the willingness of the
Task Force, along with industry and financial experts, to consult closely
with us in order to achieve this significant step.
By providing Chrysler with product and platforms, technology cooperation
and global distribution, Fiat strengthens Chrysler’s ability to create and
preserve U.S. jobs; gives U.S. consumers more choices for environmentally
advanced vehicles; gives its dealers more of the products they need to be
successful; helps stabilize the supplier base; and allows Chrysler to pay
back government loans sooner.
Chrysler has had a series of very constructive discussions since our plan
was submitted February 17, including weekly face-to-face meetings with the
Task Force. We have been impressed by their speed, diligence, good faith and
strong grasp of the difficult issues our industry faces in this financial
crisis. This is evidenced by the U.S. government’s initiatives to support
consumer warranties and suppliers, as well as their appointment of Dr. Edward
Montgomery, Director of Auto Recovery.
I want to personally assure all of our customers, dealers, suppliers and
employees that Chrysler will operate ‘business as usual’ over the next 30
days. While we recognize that we still have substantial hurdles to resolve,
Chrysler is committed to working closely with Fiat, the Administration, U.S.
Treasury and the Task Force to secure the support of necessary stakeholders.
If successful, the government will consider investing up to the additional $6
billion requested by Chrysler to help this partnership succeed.
Source: Chrysler LLC
Lori McTavish, +1-248-512-2642 (office), +1-248-202-9908 (cell), lm7 at chrysler.com, or Shawn Morgan, +1-248-512-2692 (office), +1-248-760-2621 (cell), sm718 at chrysler.com, or Todd Goyer, +1-248-512-0041 (office), +1-248-761-0805 (cell), trg32 at chrysler.com, Shawn Morgan, Senior Manager, Corporate Business Affairs Communications, Chrysler LLC, +1-248-512-2692, fax: +1-248-512-1756, sm718 at chrysler.com
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