Ghosn bets big on low-cost strategy: African plant underscores race to head off Chinese, Indian car makers

Article Abstract:

Japanese automaker Nissan Motor Co. and France's Renault S.A. are building a joint assembly plant in Tangiers, Morocco. The two firms will invest up to $1.36 bil in the plant, which will manufacture low-cost trucks and cars for the Asian, European, and North American markets. Starting capacity is 200,000 vehicles annually, to increase to 400,000 annually. The plant is scheduled to become operational at end of 2010. Carlos Ghosn, Renault-Nissan's chief executive, anticipates an operating profit margin of 6% by 2009.

Strategy & planning, Foreign operations, Morocco, Planning, Japan, France, Regie Nationale des Usines Renault, Nissan Motor Company Ltd., Company business planning, Ghosn, Carlos

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CDC makes provisions to cover German exposure

Article Abstract:

Caisse des Depots and Consignations (CDC) of France has alloted $230.9 million for a full coverage of the amount of its remaining exposure to Concordia Bau and Boden AG of Germany. CDC, a state-owned financial institution, invested as much as 1.7 billion French francs in the insurer since 1991 to take advantage of a then-seen as a potential real-estate sector in Germany. CDC spokesperson Philippe Puyau said the company decided make a provision to full cover its exposure as Concordia faces a possible bankruptcy.

Comment:

Provisions $230.9 million to fully cover the total amount of its remaining exposure to Concordia Bau and Boden AG

Germany, Financial management, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Securities industry, Caisse des depots et Consignations, Article

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Fiat, Chery forge venture to target Chinese market

Article Abstract:

China's Chery Automobile Co. and Italy's Fiat S.p.A. have announced a 50-50 joint venture to produce Fiat-brand and Alfa Romeo-brand cars for China's automobile market. Chery and Fiat plan to produce 175,000 vehicles per year beginning in 2009.

Italy, China, Fiat S.p.A., Chery Automobile Company Ltd.

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