[TI] China in Sicily?

[Barbara Jenkins]

http://www.chinaknowledge.com/Newswires/News_Detail.aspx?type=1&NewsID=29646

Chery may take over Fiat's factory in Sicily

Dec. 14, 2009 (China Knowledge) - Chinese automobile manufacturer Chery 
Automobile Co may become the buyer of Sicily-based Termini Imerese, a 
production base of Italian automaker Fiat SpA, the Wall Street Journal 
reported today.
It is said that the two companies are still in preliminary talks and no 
agreement is expected to be reached before Fiat's negotiation talks with the 
Italian government and the trade union on Dec. 22.
Earlier this year, Fiat and Chery decided to postpone a joint venture plan 
to manufacture cars this year, due to the global economic downturn.
Despite the negative effects brought by the financial crisis, Chery will 
still expand rapidly in its overseas market. With the completion of 
factories in Argentina, Russia and Uruguay, the number of Chery's overseas 
manufacturing bases will exceed 15 within this year.