[DeTomaso] More De Tomaso news....

[MikeLDrew at aol.com]

Released today by www.just-auto.com, an automotive news website, news of a 
completely different De Tomaso venture, for mass-produced smaller cars:

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One of the successful bidders for part of Fiat's Sicilian Termini Imerese 
plant is aiming for initial production of between 35,000 and 40,000 vehicles 
per year and a doubling of its existing workforce.

De Tomaso, the luxury automaker owned by Gianmario Rossignolo, received the 
green light yesterday (16 February) from the Italian and Sicilian 
governments, along with EV producer Cimino, to start work following Fiat's exit from 
Termini Imerese at the end of this year.

However, the detail of the agreement will now have to be thrashed out with 
a meeting expected tomorrow or next week between De Tomaso and the Sicilian 
government to "define every step" and to allocate part of the EUR450m 
(US$610m) for all seven parties involved in the site takeover.

"De Tomaso is ready," a source in Italy told just-auto, noting it needed 
nonetheless to revamp the facility due to Fiat's and its own differing 
technologies.

"There are a lot of things to be decided - it is not certain but there is a 
good probability," the source added. "The seven firms have to sit down with 
the Sicilian government to define every step."

De Tomaso envisages building a new city car and mini-SUV on the Termini 
Imerese site and is looking to retain 1,500 people currently working there. 
This would more than double its existing staff of 1,100 employees.

A production start date remained hazy as the final details of the move have 
yet to be finalised and, as the source pointed, out: "To realise a car from 
zero needs [around] one-and-a-half years."

Any retention of workers on the scale that De Tomaso has suggested would 
undoubtedly be welcomed by Fiat unions although FIOM said this week it was 
"suspending judgement" on any deal while it evaluated the agreement's small 
print.