Fiat signs Serbia deal on investment, new cars

Newswire

BELGRADE, April 30 (Reuters) - Italy's Fiat on Wednesday signed a memorandum of understanding with Serbia launching a strategic partnership and joint investment on car maker Zastava, officials said. The agreement said Serbia and Fiat would establish a joint company, 70-percent owned by Fiat, that will invest 700 million euros ($1.09 billion) in the production of two new car models in Zastava's plant in the town of Kragujevac. "Fiat plans to start production of one new model by the end of ...

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