Prne
March 29th, 2009
AUBURN HILLS, Michigan - 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
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
US$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
Filed under Auto, Auto and Transportation, Domestic Policy, Government and Policy, Investors, Joint Ventures, Transportation / Trucking / Railroad | Tags: Auburn hills, Chrysler, France, Germany, Michigan, United Kingdom | Comment Below
Related Press Releases Automakers Unveil Significant World and North American Debuts at the Los Angeles Auto ShowSeptember 28th, 2009 LOS ANGELES -
A cautiously optimistic automotive industry will kick off the North American auto show season by launching all-new vehicles and featuring ground-breaking technology at the Los Angeles Auto Show's press days Dec. 2-3. The show will open to the public Dec. Student Design Talent Shines Through Auto Industry GloomSeptember 16th, 2009 FRANKFURT, Germany -
- Coventry Student Wins Top Prize in Global Awards Ceremony
The automotive design community celebrated the industry's top future designers at a glamorous awards ceremony during the Frankfurt motor show last night. An alpine sports vehicle from Coventry University student Philip Woodman was selected as the best overall in this year's Interior Motives Design Awards. GM President & CEO Fritz Henderson to Open the Los Angeles Auto Show Press Days as Keynote SpeakerSeptember 1st, 2009 LOS ANGELES -
Frederick (Fritz) Henderson, president and chief executive officer of General Motors, will kick off the Los Angeles Auto Show by delivering the Motor Press Guild (MPG) keynote address the morning of Dec. 2, 2009. The MPG breakfast and Henderson's address are open to all credentialed Press Days attendees. UNESCO and Microsoft Announce Higher Education ICT Task Force for Long-Term Skills and Sustainable DevelopmentJuly 5th, 2009 PARIS -
- Collaboration to promote greater access and use of ICT for higher education enhancements. The United Nations Educational, Scientific and Cultural Organization (UNESCO) and Microsoft Corp. DialAFlight Feel Strain of Hire Vehicle ShortageJune 22nd, 2009 LONDON - International destinations far and wide are being affected by a shortage of hire cars, travel firm DialAFlight announced last week. Travellers are being urged to book their car hire early to avoid disappointment, as rental operators in Canada, Spain, Portugal and Croatia all expect demand to exceed supply this season. Joint Statement From Ronald D. Sugar, Chairman and CEO of Northrop Grumman and Louis Gallois, CEO of EADSJune 15th, 2009 PARIS - Ronald D. Sugar, chairman and CEO of Northrop Grumman and Louis Gallois, CEO of EADS issued a joint statement today. Hunt, Auto Industry Stalwart, Heads Al-Futtaim AutomotiveMay 17th, 2009 DUBAI, United Arab Emirates - Len Hunt, a veteran auto industry executive has been appointed Group Director, Automotive, Al-Futtaim and charged with leading the family owned business into an era of heightened expectations in the region's auto industry. Hunt will be based here in Dubai and will be responsible for strengthening existing principal relationships and creating avenues for incremental growth for Al-Futtaim Automotive, the foremost distributor of the world's most desirable brands including Toyota, Lexus, Honda, Chrysler, Jeep, Dodge, Volvo and Hino. W.P.M. van der Schoot resigns as director of the Ballast Nedam Administration OfficeMarch 30th, 2009 NIEUWEGEIN, The Netherlands - Mr. W.P.M. van der Schoot has indicated that he resigns as director of
the Ballast Nedam Administration Office as per 31 March 2009 due to his
appointment to the supervisory board of Hurks Groep B.V as per 1 April 2009. /C O R R E C T I O N -- Chrysler LLC/March 29th, 2009 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 "... Last-Minute Car Hire Bookers Risk DisappointmentMarch 23rd, 2009 LONDON - (www.auto-europe.co.uk)
International car hire brokerage Auto Europe has warned customers of the
possible risks of leaving car hire to the last minute this year, as suppliers
cut back on vehicle purchases. According to Auto Europe's Commercial Director for the UK and Ireland,
Peter McAree, March 2009 has seen an increase in the trend for late bookings:
"We're receiving a healthy number of short-lead orders, but we would
normally see a much higher number of advance bookings being made for summer
breaks by now," explains McAree.
Related News Chrysler CEO says management is working to get more aid, save company and its jobsApril 27th, 2009 CEO says he's working to save Chrysler and jobsDETROIT — Chrysler Chief Executive Robert Nardelli is telling employees that management is doing all it can to get more government aid and save their jobs. Nardelli says in an e-mail Monday that management's No. Chrysler's president and vice chairman LaSorda leaves Chrysler effective immediatelyMay 2nd, 2009 Chrysler president LaSorda to retire immediatelyAUBURN HILLS, Mich. — Chrysler says its president and vice chairman, Tom LaSorda, is leaving the automaker immediately. Senate committee to review Obama auto task's restructuring of GM, ChryslerJune 8th, 2009 Senate panel to question Obama auto task forceWASHINGTON — A Senate committee plans to question two members of the White House's auto task force about using taxpayer money to restructure General Motors and Chrysler. The Senate Banking Committee will hear from Ron Bloom, a senior adviser to the auto task force, and Edward Montgomery, who serves as the Obama administration's director of recovery for auto communities and workers. Chrysler CEO says automaker making progress toward restructuring goalsApril 29th, 2009 Nardelli says Chrysler making progressNEW YORK — With one day left to go before its deadline, Chrysler LLC's chief executive said Wednesday that the automaker is making progress toward meeting the government's restructuring requirements. In a letter to Chrysler employees obtained by The Associated Press, CEO Robert Nardelli pointed to the deal reached Tuesday with the automaker's largest debt holders, along with a tentative new labor agreement approved by union leaders earlier this week. Chrysler CEO Nardelli says he'll leave company after it emerges from bankruptcy protectionApril 30th, 2009 Chrysler's CEO says he'll leave after bankruptcyDETROIT — Chrysler CEO Robert Nardelli will leave his post after the company emerges from bankruptcy protection, ending nearly two years of leadership that has seen sales and earnings slump as U.S. auto sales crumbled. House committee approves request to White House for GM, Chrysler documentsJuly 17th, 2009 House committee wants GM, Chrysler documentsWASHINGTON — A House committee asked the Obama administration Friday to release documents on the federal bailouts of General Motors Co. and Chrysler Group LLC, seeking more details on decisions that led to the auto industry bankruptcies. Chrysler to file for Chapter 11 bankruptcy as talks with creditors crumble overnightApril 30th, 2009 Chrysler will file for Chapter 11 bankruptcyWASHINGTON — Chrysler will file for bankruptcy after talks with a small group of creditors crumbled just a day before a government deadline for the automaker to come up with a restructuring plan, President Barack Obama said Thursday. The Obama administration said it had long hoped to stave off bankruptcy for the nation's third largest automaker, but it became clear that a holdout group wouldn't budge on proposals to reduce Chrysler's $6.9 billion in secured debt. Chrysler receives $4 bn US government loanJanuary 2nd, 2009 WASHINGTON - US car maker Chrysler confirmed Saturday that it had received an initial infusion of $4 billion from the US government. In statement from its corporate headquarters in Detroit, Michigan, Chrysler head Robert Nardelli said the funds would 'allow the company to continue an orderly restructuring, while pursuing our vision to build the fuel-efficient, high-quality cars and trucks people want to buy'. Republican lawmakers press for deadline to end government stake in GM, ChryslerJune 11th, 2009 Senators seek deadline for stake in GM, ChryslerWASHINGTON — Republicans want the Obama administration to set a deadline for the government to sell its ownership stakes in General Motors Corp., Chrysler LLC and financial institutions. South Dakota Sen. Senate panel to question Obama's auto task force of handling of GM, ChryslerJune 10th, 2009 Senate to review work of Obama's auto task forceWASHINGTON — Members of President Barack Obama's auto task force face questions in the Senate Wednesday about billions of dollars in government aid to rescue General Motors and Chrysler and whether taxpayers would eventually receive a return on the money. The Senate Banking Committee was hearing from Ron Bloom, a senior adviser to the auto task force, and Edward Montgomery, who serves as Obama's director of recovery for auto communities and workers.
|
|
