Sisport is a women's basketball team based in Turin , Italy.
56-568: Gruppo Sportivo FIAT ( G.S. FIAT ) was founded in 1922 by employees of the eponymous automobile manufacturer the city of Turin is still associated with. Since 1978, it was first known as Sisport Fiat and then simply as Sisport . The club now primarily supports amateur and youth sports due to the emergence of professionalism in various sports. FIAT has won Euroleague Women in the 1979–80 season and two Italian Championships. Notable former athletes include racewalker champion Ileana Salvador , Mediterranean Games gold medalist Marisa Masullo , and
112-460: A 53.5% interest (fully diluted). Fiat and Chrysler have both stated that they expect that interest to reach 58.5% by the end of 2011 as result of achievement of the third of the three performance objectives. On 5 January 2012 Fiat released press info that the ownership has increased to 58.5%. The stake was further increased to 68.49% in July 2013. On 1 January 2014, Fiat announced it would be acquiring
168-520: A Scottish investment management company. Fiat's principal operating subsidiaries (direct and indirect) include: Fiat Group Automobiles S.p.A. (FGA), Chrysler Group LLC , Fiat Automoveis, S.A. (subsidiary of FGA); FGA Capital S.p.A. (a JV held 50% by FGA and 50% by Crédit Agricole CF), Ferrari S.p.A. , Maserati S.p.A. , Magneti Marelli S.p.A., Teksid S.p.A., Comau S.p.A., Itedi-Italiana Edizioni S.p.A. (see 2010 Annual Report ) Fiat has undertaken numerous joint ventures and alliances. Commencing in 1978,
224-744: A business that has experienced a loss in European market share from 9.3 to 6.2 percent. In December 2013, Marchionne announced that he intended to discontinue the Grande Punto so that the company could focus on "cool, high margin" Fiat 500 (2007) variants and the Fiat Panda . In 2010, John Elkann became the Chairman of Fiat SpA and shareholders approved a plan to demerger Fiat's capital goods businesses. Agricultural and construction equipment manufacturer CNH Global NV, truck maker Iveco , and
280-498: A cavalry officer). He often referred to other managers by their first name, although company tradition obliged one to refer to others using their titles (e.g., "Chairman Fresco"). The CEO of the company, Paolo Cantarella, ran the day-to-day affairs of the company, while Fresco determined company strategy and especially acted as a negotiator for the company. In 1999, Fiat formed CNH Global by merging New Holland NV and Case Corporation . In 2003, Fiat shed its insurance sector, which it
336-542: A compromise with the centrist parties ordered the occupation to end. In 1922, Fiat began to build the famous Lingotto car factory—then the largest in Europe—which opened in 1923. It was the first Fiat factory to use assembly lines; by 1925, Fiat controlled 87% of the Italian car market. In 1928, with the 509 , Fiat included insurance in the purchase price. Fiat made military machinery and vehicles during World War II for
392-638: A departure from their past preference for large cars). Also, Japanese automakers had been taking an ever-larger share of the car market, increasing at more than half a percent a year. Consequently, in 1984, Fiat and Lancia withdrew from the United States market. In 1989, it did the same in the Australian market, although it remained in New Zealand. In 1986, Fiat acquired Alfa Romeo from the Italian government. Also, in 1986 15% of Fiat company stock
448-431: A joint venture GAC Fiat created in 2010. Under Marchionne Fiat also re-entered several large markets that it had exited years before, such as Mexico and Australia. In December 2008, Marchionne announced Fiat had to become one of the top five automakers to survive in the long run. Under Marchionne's leadership, Fiat returned to Canadian and American markets with the new 500. However, since 2009, Marchionne has presided over
504-916: A new small car, resulting in the Fiat 500 and Ford Ka . In 2012, Fiat formed an alliance with Mazda to develop and build a new rear wheel drive roadster for the Alfa Romeo and Mazda brands. Fiat is the largest vehicle manufacturer in Italy, with cars ranging from small Fiat city cars to sports cars made by Ferrari, and vans and trucks such as the Ducato . Besides Fiat Group Automobiles S.p.A., Fiat Group automotive companies include Chrysler Group LLC and Maserati S.p.A. The Fiat Group Automobiles S.p.A. companies include: Abarth & C. S.p.A. , Alfa Romeo Automobiles S.p.A. , Fiat Automobiles S.p.A. , Fiat Professional and Lancia Automobiles S.p.A. Ferrari S.p.A.
560-559: Is 90% owned by the Fiat Group. The company also owns Autobianchi but the marque has been dormant since 1995, and Innocenti , which ceased production in 1996. The European Car of the Year award, Europe's premier automotive trophy for the past 50 years, has been awarded twelve times to the Fiat Group, more than any other manufacturer, most recently with the Fiat 500 in 2008. Previous Fiat Group models which have won European Car of
616-470: Is Italy's largest industrial concern. It also has significant worldwide operations, operating in 61 countries with 1,063 companies that employ over 223,000 people, 111,000 of whom are outside Italy. Fiat's main shareholders include 30.1% by Exor S.p.A. (controlled by the Agnelli family), 24.9% by EU institutional investors, 11.2% by outside EU institutional investors and 2.6% by Baillie Gifford & Co. ,
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#1732779492627672-575: The AvtoVAZ plant in the new city of Togliattigrad on the Volga . This began operation in 1970, producing a local version of the Fiat 124 as the Lada . On his initiative, Fiat automobile and truck plants were also constructed in industrial centers of Yugoslavia , Poland, Bulgaria, and Romania. In 1973, Fiat established Comau , an industrial automation company out of the various suppliers which had equipped
728-571: The Fiat Ducato , Fiat Scudo and Fiat Doblò Cargo. For Fiat branded Agricultural & Construction equipments from 1917 to 1991, see Fiat Trattori and from 1992 to 2014, see CNH Global . The major Italian component maker Magneti Marelli is owned by Fiat, and it in turn owns other brands such as AL-Automotive Lighting, Carello, Cromodora, Cofap, Ergom Automotive, Jaeger, Mako Elektrik, Paraflu, Seima, Siem SpA, Solex, Veglia Borletti, Vitaloni and Weber. 1960 1960 ( MCMLX )
784-536: The Italian army and Regia Aeronautica , and later for the Germans. Fiat made fighter aircraft like the biplane CR.42 Falco , which was one of the most common Italian aircraft, along with Savoia-Marchettis , as well as light tanks, obsolete compared to their German and Soviet counterparts, and armoured vehicles. The best Fiat aircraft was the G.55 fighter, which arrived too late and in too limited numbers to impact
840-612: The Type Four platform was an alliance between Alfa Romeo, Fiat, Lancia and Saab and resulting in a range of cars on sale in the mid-1980s. In 2000 a number of joint ventures were established with General Motors following GM buying 20% of Fiat while Fiat bought 6% of GM. Complications with the relationship saw these JVs being wound back by 2005. Resulting projects included the GM Fiat Small platform and Fiat-GM Powertrain . In 2005, Fiat formed an alliance with Ford to create
896-573: The United States and Canada in 2011, marking the company's return to the American auto market , which it had been absent from since 1984. Prior to this, Fiat's main presence on the continent was Mexico, where it offers a greater variety of products than in the United States and Canada. On 10 January 2011, Fiat announced that it had increased its share in Chrysler from 20% to 25% following
952-663: The 1960s. The company was reorganized on a product-line basis, with two main product groups—one for passenger cars, the other for trucks and tractors—and a number of semi-independent division and subsidiaries. Top management, freed from responsibility for day-by-day operations of the company, was able to devote its efforts to more far-reaching goals. In 1967, Fiat made its first acquisition when it purchased Autobianchi ; with sales amounting to $ 1.7 billion, it outstripped Volkswagen, its main European competitor, and in 1968 produced some 1,750,000 vehicles while its sales volume climbed to $ 2.1 billion. According to Newsweek in 1968, Fiat
1008-525: The AvtoVAZ plant in Russia. Comau became an industry pioneer in the use of Robotics for vehicle assembly – a technology with which Fiat would become synonymous for in the 1970s, with its "Robogate" system for bodyshell manufacture, and the later FIRE family of robot-assembled engines in the 1980s. Despite offering a relatively competitive range of cars, Fiat was not immune from the financial pressures that
1064-508: The Italians (e.g., precarious versus lifetime employment). Instead, Fresco focused on offering more incentives for good performance, including compensation using stock options for top and middle management. However, his efforts were frustrated by union objections. Unions insisted that pay raises be set by length of tenure, rather than performance. Another conflict was over his preference for informality (the founder, Giovanni Agnelli, used to be
1120-574: The Supreme Court announced that Fiat was now an owner of the new Chrysler a.k.a. Chrysler Group LLC . Marchionne was appointed CEO of Chrysler following its emergence from bankruptcy proceedings. Under his leadership, Chrysler has taken on a structure similar to that of Fiat and has released, in quick succession, a large number of completely redesigned or refreshed vehicles. Fiat launched its 500 , which had been available in Europe since 2007, in
1176-566: The U.S. and Canadian governments. On 25 May autonews.com reported that Fiat could buy government stakes in Chrysler as soon as the end of July 2011, increasing its total stake to 54%. In May 2011, it emerged that Fiat could actually increase its stake in Chrysler Group to more than 70 percent through the exercise of further options. In a regulatory filing dated 22 July 2011, the Michigan-based automaker reported that Fiat held
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#17327794926271232-540: The U.S., Brazil, Italy and other markets) and a long history of licensing manufacture of its products in other countries - in the 1960s , Fiat notably set up joint ventures in Eastern Europe with the best known being VAZ ( Lada ) in the former Soviet Union . It also has numerous alliances and joint ventures around the world, the main ones being located in Serbia, France, Turkey, India and China. Gianni Agnelli ,
1288-472: The US and providing reciprocal access to Fiat's global distribution network. Agreements were signed on 30 April 2009, with Fiat's future shareholding capped at 49% until all government loans had been repaid. In addition, the proposed agreement would entitle Fiat to receive a further 15% (without cash consideration) through the achievement of specific product and commercial objectives. No cash or financial support
1344-474: The US market. Maserati re-entered the US market under Fiat in 2002. Since then, Maserati sales there have been increasing briskly. Paolo Fresco became chairman of Fiat in 1998 with the hope that the veteran of General Electric would bring more emphasis on shareholder value to Fiat. By the time he took power, Fiat's market share in Italy had fallen to 41% from around 62% in 1984. However, a Jack Welch -like management style would be much harsher than that used by
1400-472: The Year: Fiat 124 (1967), Fiat 128 (1970), Fiat 127 (1972), Lancia Delta (1980), Fiat Uno (1984), Fiat Tipo (1989), Fiat Punto (1995), Fiat Bravo/Brava (1996), Alfa Romeo 156 (1998), Alfa Romeo 147 (2001) and the Fiat Panda (2004). Fiat Industrial Vehicles ( Fiat Veicoli Industriali ) was Fiat's truck and bus division. It was created in 1903 with the launch of the 24HP model. By 1908
1456-413: The achievement of the first of three performance objectives. On 11 April 2011, it announced achievement of the second performance objective, increasing its stake a further 5% to 30%. On 24 May 2011, Fiat announced that it had paid Chrysler US$ 1,268 million for a further 16% interest, increasing its stake total stake to 46% (fully diluted). The transaction coincided with Chrysler refinancing its debt to
1512-468: The auto industry confronted following the 1973 oil price shock . Towards the end of 1976 it was announced that the Libyan government was to take a 9.6% shareholding in the company in return for a capital injection worth an equivalent of £250 million. The size of the Libyan investment is apparent when it is compared to the £310 million IMF loan that the Italian government was trying to negotiate at
1568-458: The company produced around 120 trucks, and by the end of 1918 production had grown to 17,000. The operation closed in 1974 when Fiat created IVECO with OM , Lancia , Magirus and Unic . Iveco was demerged into Fiat Industrial at the beginning of 2011. On 17 April 2007, Fiat Automobiles' light commercial vehicle unit Fiat Veicoli Commerciali was rebranded as Fiat Professional . Some of Fiat's light commercial vehicle products include
1624-510: The country accounted for more than a third of the company's revenue. Fiat-brand cars are built in several locations around the world. Outside Italy, the largest country of production is Brazil, where the Fiat brand is the market leader. The group also has factories in Argentina, Poland and Mexico (where Fiat-brand vehicles are manufactured at plants owned and operated by Chrysler for export to
1680-651: The dilutive effect of the Libyan investment on existing shareholders, the company's largest shareholder, the Agnelli family, retained a 30% stake in the recapitalised business. In 1979, the company became a holding company when it spun off its various businesses into autonomous companies, one of them being Fiat Auto. That same year, sales reached an all-time high in the US, corresponding to the Iranian Oil Crisis . However, when gas prices fell again after 1981, Americans began purchasing sport utility vehicles , minivans , and pickup trucks in larger numbers (marking
1736-535: The end of 2014. Fiat Chrysler Automobiles became the new owner of Fiat Group. On 1 August 2014, Fiat S.p.A. received necessary shareholder approval to proceed with the merger (which followed board approval). The merger became effective 12 October 2014. Fiat was founded in 1899 by a group of investors, including Giovanni Agnelli . During its more than century-long history, Fiat has also manufactured railway engines and carriages, military vehicles , farm tractors , and aircraft. In 2013, Fiat (together with Chrysler)
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1792-581: The first 9 months of FY2006. Marchionne reduced Fiat's managerial bureaucracy refocused the business on markets and profit. While chairman, Luca di Montezemolo, dealt with politicians and unions, Marchionne rebuilt the car business. The success of the Grande Punto model was in large part responsible for the turnaround in Fiat's fortunes, but the award-winning 500 cemented it. Fiat formed a joint venture with India's TATA Motors , which has subsequently ended, and with China's Chery Motors which didn't conclude. In 2005 Fiat courted Ford, and returned to China with
1848-470: The first Fiat was exported to the US. That same year, the first Fiat aircraft engine was produced. Also around the same time, Fiat taxis became popular in Europe. By 1910, Fiat was the largest automotive company in Italy — a position it has retained since. That same year, a new plant was built in Poughkeepsie , NY, by the newly founded American F.I.A.T. Automobile Company. Owning a Fiat at that time
1904-542: The four Olympic gold medalists Pietro Mennea , Sara Simeoni , Maurizio Damilano and Gabriella Dorio (in that period under the administration of Giampiero Boniperti and the sponsorship of Fiat Iveco ). This article about a basketball team in Italy is a stub . You can help Misplaced Pages by expanding it . This athletics and track and field article is a stub . You can help Misplaced Pages by expanding it . Fiat S.p.A. Fiat S.p.A. , or Fabbrica Italiana Automobili Torino (Italian Automobile Factory of Turin),
1960-467: The full owner of Chrysler Group LLC in 2014. Fiat Group currently produces vehicles under twelve brands: Abarth , Alfa Romeo , Chrysler , Dodge , Ferrari , Fiat , Fiat Professional , Jeep , Lancia , Maserati , Ram Trucks , and SRT . In 1970, Fiat employed more than 100,000 in Italy when its production reached the highest number, 1.4 million cars, in that country. As of 2002, Fiat built more than 1 million vehicles at six plants in Italy and
2016-454: The grandson of founder Giovanni Agnelli, was Fiat's chairman from 1966 until 1996; he then served as honorary chairman from 1996 until his death on 24 January 2003, during which time Cesare Romiti served as chairman. He was succeeded briefly by Paolo Fresco, who served as chairman, and Paolo Cantarella, as CEO. Umberto Agnelli then took over as chairman from 2003 to 2004. After Umberto Agnelli's death on 28 May 2004, Luca Cordero di Montezemolo
2072-570: The industrial and marine division of Fiat Powertrain Technologies were spun off into a new group on 1 January 2011. The parent company, Fiat Industrial S.p.A., was listed on the Milan stock exchange on 3 January 2011. In 2010, credit rating agency Fitch cut Fiat's debt rating to BB− after it had accumulated a debt of around € 9,300,000,000. In 2013, Fiats debt rating was cut again, this time by Moody's , to Ba3 over concerns European demand
2128-612: The merger (which followed board approval). FCA will be listed on the New York Stock Exchange with an additional listing on the Mercato Telematico Azionario in Milan to follow. The group's activities were initially focused on the industrial production of cars, industrial and agricultural vehicles. Over time it has diversified into many other fields, and the group now has activities in a wide range of sectors in industry and financial services. It
2184-541: The outcome of the war. In 1945, the National Liberation Committee removed the Agnelli family from leadership roles in Fiat because of its ties to Mussolini's government. These were not returned until 1963, when Giovanni's grandson, Gianni , took over as general manager until 1966 and as chairman until 1996. Fiat launched a nuclear research program in the 1950s. It was the first private company in Europe to host its own nuclear reactor. Among
2240-594: The partnership was to provide both groups with significantly enhanced economies of scale and geographical reach at a time when they were struggling to compete with larger and more global rivals such as Toyota , Volkswagen and alliance partners Renault S.A. and Nissan . Fiat would not have to pay any money for its 20% of Chrysler. On 7 June 2009, the Indiana State Police Pension Fund, the Indiana Teacher's Retirement Fund, and
2296-608: The remaining shares of Chrysler owned by the VEBA worth $ 3.65 billion. The deal was completed by 21 January. On 29 January 2014, it was announced that Fiat S.p.A. would be merged into a new company, Fiat Chrysler Automobiles NV, incorporated in the Netherlands with tax domicile in the UK. Fiat Chrysler Automobiles will become the owner of Fiat Group. On 1 August 2014, Fiat S.p.A. received necessary shareholder approval to proceed with
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2352-542: The state's Major Moves Construction Fund asked the US Supreme Court to delay the sale of Chrysler to Fiat while they challenge the deal. The funds argued that the sale went against US bankruptcy law because it unlawfully rewarded unsecured creditors ahead of secured creditors. On 9 June 2009, the Supreme Court lifted the temporary hold, clearing the way for Fiat to acquire Chrysler. See Indiana State Police Pension Trust v. Chrysler for more information. On 10 June,
2408-416: The time. Other aspects of the Libyan agreement included the construction of a truck and bus plant at Tripoli . Chairman Agnelli candidly described the deal as "a classic petro-money recycling operation which will strengthen the Italian reserves, provide Fiat with fresh capital and give the group greater tranquility in which to carry out its investment programmes". Equally noteworthy was the fact that despite
2464-412: The younger Agnelli's first steps after gaining control of Fiat was a massive reorganization of the company management, which had previously been highly centralized, with little provision for the delegation of authority and decision-making. Such a system was effective in the past, but lacked the responsiveness and flexibility needed by Fiat's steady expansion, and the growth of its international operations in
2520-597: Was "the most dynamic automaker in Europe...[and] may come closest to challenging the worldwide supremacy of Detroit." Then, in 1969, it purchased controlling interests in Ferrari and Lancia. At the time, Fiat was a conglomerate , owning Alitalia , toll highways, a typewriter and office machine manufacturer, electronics and electrical equipment firms, a paint company, a civil engineering firm, and an international construction company. Following up on an agreement Valletta had made with Soviet officials in 1966, Agnelli constructed
2576-555: Was a leap year starting on Friday of the Gregorian calendar , the 1960th year of the Common Era (CE) and Anno Domini (AD) designations, the 960th year of the 2nd millennium , the 60th year of the 20th century , and the 1st year of the 1960s decade. It is also known as the " Year of Africa " because of major events—particularly the independence of seventeen African nations—that focused global attention on
2632-452: Was a sign of distinction. The cost of a Fiat in the US was initially $ 4,000 and rose up to $ 6,400 in 1918, compared to $ 825 for a Ford Model T in 1908, and $ 525 in 1918, respectively. During World War I , Fiat had to devote all of its factories to supplying the Allies with aircraft, engines, machine guns, trucks, and ambulances. Upon the entry of the US into the war in 1917, the factory
2688-492: Was an Italian holding company whose original and core activities were in the automotive industry , and that was succeeded by Fiat Chrysler Automobiles NV (FCA). The Fiat Group contained many brands such as Ferrari, Maserati, Fiat, Alfa Romeo, the Chrysler Group, and many more. On 29 January 2014, it was announced that Fiat S.p.A. (the former owner of Fiat Group) was to be merged into a new Netherlands-based holding company Fiat Chrysler Automobiles NV (FCA), taking place before
2744-426: Was changed to upper- and lower-case Fiat in 1906. Agnelli led the company until his death in 1945, while Vittorio Valletta administered the firm's daily activities. Its first car, the 3 ½ CV , of which only 24 copies were built, all bodied by Alessio of Turin, strongly resembled contemporary Benz , and had a 697 cc (42.5 cu in) boxer twin engine. In 1903, Fiat produced its first truck. In 1908,
2800-496: Was lower and debt was falling slower than expected. The Financial Times estimate of Fiat's debt at the time was almost € 28,000,000,000. On 20 January 2009, Fiat S.p.A. and Chrysler LLC announced their intention to form a global alliance. Under the terms of the agreement, Fiat would take a 20% stake in Chrysler and gain access to its North American distribution network in exchange for providing Chrysler with technology and platforms to build smaller, more fuel-efficient vehicles in
2856-520: Was named chairman, with Agnelli heir John Elkann becoming vice chairman (at the age of 28), and other family members also serving on the board. On 1 June 2004, Giuseppe Morchio was replaced by Sergio Marchionne as CEO. Giovanni Agnelli, with several investors, founded the Fabbrica Italiana Automobili Torino (F.I.A.T.) società per azioni (S.p.a.) , Italian Automobile Factory of Turin , in 1899. Its acronymous name
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#17327794926272912-630: Was operating through Toro Assicurazioni to the DeAgostini Group. In the same year, Fiat sold its aviation business, FiatAvio to Avio Holding . In February 2004, the company sold its interest in Fiat Engineering, as well as its stake in Edison . Sergio Marchionne was appointed CEO of Fiat in 2004 and initially he impressed investors. At the end of the 2005 financial year, the company saw its first profit in 17 quarters of €196M for
2968-477: Was required from Fiat under the agreement. Instead it would obtain its stake mainly in exchange for covering the cost of retooling a Chrysler plant to produce one or more Fiat models for in the US. Fiat would also provide engine and transmission technology to enable Chrysler to introduce smaller, fuel-efficient models in the NAFTA market. The deal was engineered by Fiat chief Sergio Marchionne. The principal objective of
3024-612: Was shut down as US regulations became too burdensome. After the war, Fiat introduced its first tractor, the 702. By the early 1920s, Fiat had a market share in Italy of 80%. In 1921, workers seized Fiat's plants and hoisted the red flag of communism over them, to which Agnelli responded by quitting the company. However, the Italian Socialist Party and its ally organization, the Italian General Confederation of Labour , in an effort to effect
3080-430: Was still owned by Libya, an investment dating back to the mid-seventies. US foreign policy under President Reagan's administration canceled a Pentagon contract to produce earth movers with Fiat and pressured the company into brokering a buyout of the Libyan investment. In 1992, two top corporate officials in the Fiat Group were arrested for political corruption. A year later, Fiat acquired Maserati. In 1995 Alfa Romeo exited
3136-416: Was the second largest European automaker by volumes produced, and the seventh in the world ahead of Honda , PSA Peugeot Citroën , Suzuki , Renault , and Daimler AG . Over the years, Fiat has acquired numerous other automakers: it acquired Lancia in 1968, became a shareholder of Ferrari in 1969, took control of Alfa Romeo from the Italian government in 1986, purchased Maserati in 1993, and became
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