Fiat Mirafiori plant plan unveiled image

Fiat will invest 20 billion euros ($27 billion) on the Mirafiori plant from Turin. The investment will help the largest industrial group from Italy to boost production and improve efficiency in exchange for more labor flexibility.

“Fiat confirms there will be a meeting with unions on Friday at which it will detail its plan to relaunch the Mirafiori plant,” a Fiat spokesman said on Wednesday.

At this moment, at the Mirafiori plant work nearly 5,500 workers and it is one of Italy’s biggest, along with the Melfi plant in southern Italy.

Interesting is the source of money, because Fiat already has some little problems because of Chrysler acquisition – some voices had said that Fiat should sell Ferrari and Magetti Marelli to complete the deal with Chrysler.

According to some analysts, Fiat is losing money at all its car plants in Italy and some efficiency investments are crucial if it wants to regain competitiveness.