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There is discussion on the Fiat Powertrain share to the Chinese. Towards the CNH assembly. Politics on the attack
It could be the shareholders' meeting of Cnh Industrial, on April 15, the opportunity to have a point on the fate of Iveco.
The new proposal from Faw, a Chinese group interested in Iveco and already working to settle in the Motor Valley with an electric car pole, has not yet arrived on the table of the ad Scott Wine. The first offer of 3 billion, in 2020, was deemed inadequate. Assessment aside, now the problem to be solved would concern the company Fpt, which produces engines for industrial use, that is, what share would end up in Faw (not self-sufficient in engines) together with an agreement on its independence. The deal, in fact, includes trucks, buses and engines. On the other hand, defense means are excluded. Question mark about Nikola, the US company specializing in electric and hydrogen trucks, which has entered into a European joint venture with Iveco. US-China relations could in fact not include the joint venture in the sale. In this case he would remain in CNH Industrial, dealing with green vehicles for defense and rescue.
The political and trade union issues were added to the FPT and evaluation issues, with fears that a sale to the Chinese, in addition to affecting Iveco's Italian character, could bring risks to employment levels. Here then is the bipartisan request by the politicians to activate a table with the social partners and local institutions, together with the evaluation of resorting to the golden power, that is the right to dictate conditions for the acquisition of shareholdings, veto the adoption of certain corporate resolutions and oppose the purchase of shares.
«The transport sector is strategic for the country - comments an observer - but what intentions does the State have on Iveco? Is it able to support its development? Recent examples go in the opposite direction. As much as a foreign investor with precise plans is worth. This is why it is necessary to await the offer and the Italian production project of Faw. Therefore, all the evaluations can be made ». From the assembly of CNH Industrial and from the president of Exor, John Elkann, therefore, signals are expected in view of the spin-off of the group, not before 2022, an operation that would be preceded - as a function of the sale - by the redefinition of the Iveco organization chart , perhaps already by the summer to make the process easier. «In this scenario - says Gianandrea Ferrajoli (Federauto Trucks) - there is hope that Iveco will remain a flagship of Italy. The placement and green plans between methane, electricity and hydrogen are the main attraction. Above all, long-term investments are needed "