Chrysler - Fiat Deal Signed, According to Italian Newspaper

Citing inside sources, Italian newspaper Corriere Della Serra reported Thursday morning that Chrysler LLC and Fiat have signed a deal to forge an alliance. However, according to Automotive News, Fiat later denied this. We've yet to see any official announcement from any of the two involved parties, so we'll keep a close watch on the story throughout the day. Chrysler is a battle with time as the Obama administration is aiming for the company to file for Chapter 11 bankruptcy protection as early as today.

Late last night, Chrysler announced that UAW (United Auto Workers) members approved a cost-saving deal.

"We are thankful to the Chrysler UAW members for their support in ratifying this contract, especially during these challenging times," said Tom LaSorda, Vice Chairman and President
in a prepared statement. "This was a necessary step as we move forward in revitalizing this great Company. Today's vote enables us to continue our work to meet the conditions laid out by the U. S. Treasury Department. The entire Chrysler leadership team believes in and appreciates the men and women that make up our great workforce worldwide."

Via: Autoblog.it , Source: Corriere