MILAN (Reuters) – Fiat S.p.A. will launch the spin-off of its truck and farm kit activities later this month, aiming to have two listed companies by the year-end, Italy’s leading daily newspaper said on Saturday.

Fiat announced in April a plan to set up a separately listed company, to be called Fiat Industrial, which will own the group’s stakes in truck unit Iveco and farm and construction equipment maker CNH Global NV.

Corriere della Sera newspaper said that on July 21, when Fiat’s board is due to meet to approve second-quarter results, it will also call a shareholder meeting for September to approve the spin-off plan.

The existing Fiat company is due to keep the group’s auto activities, including its own Fiat brand, Lancia and Alfa Romeo, as well as luxury brands Ferrari and Maserati. Continue reading Fiat to launch truck spin-off this month, report says

TURIN — With his new five-year plan Sergio Marchionne aims to give Fiat S.p.A. and Chrysler Group the global reach and scale they need to prosper after the industry’s worst crisis in 60 years. Many analysts believe the plan could work.

Unveiling the strategy in Fiat’s home city of Turin, Italy, Marchionne, who is CEO of both carmakers, outlined plans for Fiat and Chrysler to build 6 million vehicles a year, the magic number that Marchionne believes volume makers need to reach to survive in the global auto market.

Fiat also will spin off its Iveco trucks and CNH tractors divisions to separate them from its core carmaking business in a move that most analysts see as a prelude to integrating Chrysler within Fiat and possible new alliances or partnerships with other automakers. Continue reading Marchionne’s plan for Fiat-Chrysler earns positive reaction

MILAN (Bloomberg) — Fiat S.p.A. named Agnelli family heir John Elkann to become chairman as Italy’s biggest carmaker prepares to spin off the auto unit from truck and tractors.

Elkann, 34, will replace Luca Cordero di Montezemolo in the top position, the Turin-based company said. Fiat has revived a plan to separate the car division, according to two people with knowledge of the matter, who asked not to be identified prior to an announcement.

Elkann, the grandson of former Chairman Giovanni Agnelli, is currently Fiat vice chairman and head of the family’s holding company. With a separation of the auto operations, Chief Executive Office Sergio Marchionne would have an entity to facilitate future alliances, and a share sale would generate cash to expand. The unit accounted for 56 percent of 2009 sales.

“The spinoff is very positive for Fiat as it helps to bring out the value from the Italian carmaker,” said Karim Bertoni, who helps manage $18.5 billion at Geneva-based Banque Syz & Co. “That’s why shares are moving up. Continue reading Fiat names Elkann chairman as it revives auto spinoff