UPDATE 2-Fiat posts record loss, plans funds for Auto unit

Newswire

(Adds company quotes, detail, fundmanger comment, shares) MILAN, Feb 28 (Reuters) - Italian industrial group Fiat made a record loss in 2002 on a slew of one-offs that cleared the decks for new management and said it would find five billion euros to beef up its car arm. Fiat, once Europe's biggest carmaker but last year forced to sell assets and lay off some 15,000 workers as sales of its outdated models slumped, posted a 4.26 billion euro net loss for 2002 as one-off items contributed ...

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