Società per azioni ( S.p.A. or spa ) is a form of corporation in Italy , meaning 'company with shares' (although often translated as ' joint-stock company ', which may or may not be a limited liability entity). It is more or less equivalent to S.A. or public limited company (PLC) in other countries.
12-633: Sevel S.p.A. (acronym of "Società Europea Veicoli Leggeri" - "Société Européenne de Véhicules Légers" ( European Light Vehicle Company )) is an Italian automotive company which produces light commercial vehicles . It was first established in 1978 by Fiat S.p.A. and PSA Group . Formerly, Alfa Romeo , Lancia and Talbot were also part of the joint venture. Sevel Sud in Italy began manufacturing in 1981. Sevel Nord in France started in 1993. Fiat sold its share of Sevel Nord to PSA in 2012 and re-entered it through
24-438: A board of directors on behalf of the shareholders. On account of these characteristics, an S.p.A. can raise large amounts of capital by incentivizing many investors to buy its shares, making the S.p.A. suitable for large undertakings. Accordingly, the S.p.A. is the legal form in which large companies typically operate all over the world. The elements that characterize this type of company and are essential to be able to apply
36-496: Is a car factory in Atessa , Italy. The complex is owned by Stellantis . The factory began manufacturing in 1981. It occupies an area of more than 1.2 million square meters, of which 344,000 are covered. It has a production capacity of 250,000 vehicles per year, with a total of 6,300 workers employed. In 2013, Fiat and PSA announced their new investment for a new generation van, with a €550 million/€150 million split in investment, with
48-720: Is the second factory of Sevel Sud located in Pomigliano d'Arco , near Naples. The factory produced the Fiat Ducato and Talento and the rebadged Alfa Romeo AR6 until 1994 when it was discontinued. The Sevel acronym was also used by Fiat and Peugeot's Argentinian subsidiary after they merged in December 1980. Here, however, the abbreviation signified S ociedad E uropea de Ve hículos para L atinoamérica (European Company for making Vehicles for Latin America). Sevel Uruguay
60-556: The blue chips of the FTSE MIB Index: Banco BPM , BPER Banca , UBI Banca , demutualized from S.c.p.a., S.c. a.r.l., or S.c. legal forms (respectively, co-operative company by shares, co-operative company with limited liability, and co-operative company). As a legal form , the S.p.A. has five characteristics that are always present and universally recognized: legal personality, limited liability , transferable shares, ownership by shareholders , and management by
72-544: The civil code remained unaltered until the 2003 Company Law Reform. The regulations in effect are set out in the Italian Civil Code of 1942, which also adopted the name currently in use. Within the civil code, the articles specifically addressing S.p.A. are found in Articles 2325-2510 of Book V, Title V. Since 2016, banks are required to run as S.p.A. if their assets are more than a defined threshold. This saw
84-691: The joint venture continuing through their merger company Stellantis . The facelifted third generation model was launched in 2014. In September 2018 the 6 millionth vehicle (a Fiat Ducato) was built in the Sevel Atessa factory. Production by model between 2000 and 2007 in the Sevel Sud factory: Source OICA. Note : The Fiat Ducato is also manufactured in Brazil (6,000 ex per year) and in Russia (15,000 ex per year since 2007). The Sevel Campania S.p.A.
96-490: The legislation relating to this institution are: If one of these elements is missing, the case is not considered integrated, and therefore the regulations of the SpA are not applicable. Due to these characteristics (high capital and public sale of shares), the S.p.A. is the only joint-stock company allowed to exercise insurance activity (art. 14 letter a Legislative Decree 209/2005) and the exercise of banking activity (art. 14 letter
108-523: The merger of FCA and PSA into Stellantis in 2021. A joint venture extension for Sevel Sud was agreed upon by both automakers in February 2019, preceding the merger of both companies into Stellantis. "Sevel Nord" (from "Société Européenne de Véhicules Légers") is a car factory in Lieu-Saint-Amand , near Valenciennes , Denain and Cambrai , France, with manufacturing commencing in 1993. It
120-546: The unit was quote/stock of share capital. Moreover, the articles of association of S.r.l. allowed different allocation of profit and assets, which was more comparable to a limited partnership . Throughout Italy's history, the governance of S.p.A. has been remodeled several times. Originally the S.p.A. was governed by the Commercial Code of 1865, and subsequently by that of 1883, under the name " società anonima " ('anonymous company'). The regulations contained within
132-567: Was founded as a 50-50 joint venture between Groupe PSA (then named PSA Peugeot Citroën) and Fiat . Sevel Nord started manufacturing vans for Toyota in 2013. A third generation of light commercial vans and passenger minivans was launched by PSA and Fiat in 2016. It has a production capacity of 200,000 vehicles per year, and a total of 2,400 employees. In 2011 some 94,000 vans were manufactured, 74,000 of which were Peugeot and Citroën and 20,000 were Fiat models. Sevel Nord has produced: The Sevel Sud (from S ocietà E uropea Ve icoli L eggeri")
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#1732783888211144-653: Was founded in 1984, and had a Sevel plant in Montevideo, Uruguay. Note that in some cases, models are also manufactured elsewhere. For example, as of 2020, the Citroën Jumpy, Peugeot Expert and Opel Vivaro are also produced in Kaluga, Russia. Societ%C3%A0 per Azioni The other common form of corporation in Italy was società a responsabilità limitata (S.r.l.) (' limited liability company '). S.p.A. issued shares ( Italian : azioni ), while in S.r.l.
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