Fiat Automobili Srbija
Naša fabrika
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Formerly called
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Zastava |
|---|---|
| Subsidiary | |
| Industry | Automotive |
| Predecessor |
Zastava Automobili (1958–2008) |
| Founded | Kragujevac, Serbia (October 14, 2008) First founded 1960 |
| Headquarters | Kragujevac, Serbia |
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Area served
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Worldwide |
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Key people
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Silvia Vernetti (CEO) |
| Products | Automobiles |
| Brands | Fiat 500L |
| Revenue |
 €1.497 billion (2013)
|
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€9.87 million (2013)
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| Total assets |
 €1.259 billion (2013)
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| Total equity |
€202.45 million (2013)
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| Owner |
FCA Italy (67%) Government of Serbia (33%) |
|
Number of employees
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3,668 |
| Parent | Fiat Chrysler Automobiles |
| Subsidiaries | Zastava Trucks (54%) |
| Website | fiatsrbija |
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Footnotes / references FAS Serbia changes its name in FCA Serbia |
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FIAT Chrysler Automobiles Serbia (Serbian: FIAT Krajsler Automobili Srbija), previously known as Zastava Automobiles, is an automobile manufacturing company based in the city of Kragujevac, Serbia and widely known for its Fiat-based automobiles, which it began assembling in 1955 for Eastern European markets. It became a subsidiary of Fiat in 2008, once fully bought by the Italian car manufacturer, and was renamed to Fiat Automobili Srbija (or Fiat Automobiles Serbia). Then the company became a subsidiary of Fiat Chrysler Automobiles in 2014 following the merger, then shut down of Fiat S.p.A..
On July 28, 2008, Fiat signed a letter of intent, undertaking to take control of the automobile division, investing €700 million in return for a 67 percent stake in the company (then owned by the state) and an additional €100 million of investment from the Serbian government. This was later revised to €300 million. Fiat pledged not to cut any jobs and to make good a backlog in wage payments for employees and hinted that the plant may become a dedicated Fiat production site. With this major investment, production was set to reach 330,000 units by 2012.
Initially, the company was best known for its locally built versions of the Fiat 128 and Fiat 600.
During the 1970s and 1980s, Zastava sold its compact cars in North and South America and Western Europe under the "Yugo" brand. Its final model, the Yugo Sana, was styled by Italian designer Giorgetto Giugiaro and launched in 1990, but its production was cut short by the Yugoslav wars. By the same time the Yugo brand had disappeared from most Western markets by 1993. In 1999, the factory was damaged by NATO bombing during the Kosovo War.
The post-Yugoslav era has been difficult for Zastava, just as most of the other major companies based in Serbia, which suffered from hyperinflation, international sanctions, and economic mismanagement. As a result, the production almost stopped and the company failed to introduce new models for a long time.
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Wikipedia