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Fiat Loosens More of its Italian Ties

Sends new signals its HQ could move to Michigan.

by on May.29, 2013

Fiat/Chrysler CEO Sergio Marchionne continues to signal a move to the US is likely.

Fiat took another step towards loosening its ties to Italy as Fiat Industrial’s board of directors met this week and approved a merger of its principal Dutch and Italian subsidiaries.

The move comes as rumors and speculation continue to mount that Fiat S,p.A. will ultimately shift its headquarters from Turin to the Detroit suburbs once the maker finalizes its acquisition of Chrysler. The fear of losing the company has led Italian government leaders to look for ways to keep Fiat from picking up and moving.

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The Fiat Industrial Board of Directors approved the cross-border merger of the wholly-owned subsidiary Fiat Netherlands Holding N.V. with Fiat Industrial S.p.A, the company said in a brief statement. The merged company is expected to reside neither in the Netherlands or Italy but in England where Fiat officials have said the company will be domiciled for tax purposes.