Tofas, Fiat sign commercial vehicle deal

Newswire

ISTANBUL, June 22 (Reuters) - Italian carmaker Fiat and its Turkish joint venture Tofas have signed a deal to produce 120,000 light commercial vehicles annually in Turkey, Tofas said in a statement on Friday. The brief statement did not identify the vehicle but newspaper reports this week said the companies would invest 350 million euro ($470 million) in building the new Doblo van model in Turkey. Tofas shares rose 3.2 percent at 1212 GMT, outperforming a negative market.

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