Fiat (FCAU) Enters 4-Year Tentative Labor Contract With UAW
Zacks Investment Research | Dec 01, 2019 08:12PM ET
Fiat Chrysler Automobiles N.V. (NYSE:F) recently committed to make an investment of $9 billion, by reaching a tentative four-year labor contract with the United Auto Workers (UAW) union. This is likely to boost the $50-billion merger plans of Fiat and PSA, the maker of Peugeot and Citroen, in order to create the world's fourth largest automaker.
Per Bloomberg, Fiat will spend $4.5 billion to boost the output of its Jeep sport utility vehicles and Ram trucks, while the other half of the investment will be spent over the next four years. The company will also generate 7,900 new jobs under this four-year agreement.
Shares of Fiat have rallied 11.8% in the past three months compared with the 9.3% increase recorded by theOriginal post
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