Italy's FIOM union says new models needed for full employment at FCA's Turin plant

MILAN (Reuters) – Italian metalworker union FIOM on Monday called on Fiat Chrysler (MI:) to come up with new car models to be produced in its home town of Turin to ensure the Mirafiori plant there reaches full employment.

In October Fiat Chrysler and Peugeot owner PSA (PA:) unveiled plans to create a $50 billion group, set to become the he world’s No.4 automaker.

But analysts fear the merger could create a group with spare production capacity of almost six million vehicles in a slowing autos market.

Fiat Chrysler has pledged to invest 750 million euros in its Mirafiori plant in Turin, as part of a 5 billion euro plan to 2021 for Italy, but FIOM said in a statement that a new business plan was necessary to increase production and boost jobs.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.