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 – Luca Cordero di Montezemolo will quit as Fiat S.p.A. chairman, the company said in a statement Tuesday. Montezemolo will stay on Fiat Group’s board and will remain chairman of the company’s Ferrari sports car subsidiary.

Montezemolo is stepping down on the eve of the presentation of Fiat Group’s 2010-2014 business plan because he has “completed the assignment given to him” when he was appointed chairman in May 2004, the statement says. Continue reading Fiat’s Montezemolo to quit as chairman

Thanks to a lack of security at the Geneva PalExpo Centre these images of a Ferrari 599XX are out in the open for everyone’s enjoyment less than 24 hours before Ferrari is supposed to officially uncover the car. As can be seen in the pics the F60 F1 challenger will be shown in the same event. Details are understandably quite scarce at the moment but the 599XX is set to be the most extreme 599 GTB Fiorano ever seen. We wouldn’t be surprised if Michael Schumacher was extensively involved in its development. Continue reading Ferrari 599XX Technical Study Captured Before Geneva Show Opening