Optimism Among Italian Auto Suppliers Reported by Italian American Alliance for Business and Technology (IAABT)
Detroit, MI. Following the announcement of a Chrysler and Fiat agreement, IAABT president Massimo Denipoti reported cautious optimism by the member companies of the Alliance. He stated: "Our member companies are generally pleased with the outcome of negotiations between the US Treasury, Chrysler and its lenders". IAABT is a Michigan organization that works closely with the Italian Consulate in Detroit and promotes Italian technology companies and their competencies. "Some concern remains" continues Denipoti "with regard to supplier receivables. Everyone is waiting to see how Chrysler is going to manage this delicate side of the business."
Most member companies of IAABT are Italian auto suppliers who have been established in North America for a long time - working with the local automotive industry, supplying the Big Three, their Tiers and other car companies. IAABT expects several new Italian companies to start or expand their operations in this region as a result of the consolidation of Chrysler and Fiat. "As difficulties in the automotive marketplace start to be resolved, the Chrysler/Fiat collaboration will result in highly-desirable new business opportunities for domestic suppliers, existing and new Italian suppliers, and the State of Michigan in general" says Denipoti.
While the region has been hit hard by dramatic changes and reconfiguration of the auto industry, Michigan can be an ideal place of business for new Italian companies who might follow Fiat to North America as it partners and transfers technology with Chrysler.
The Italian American Alliance for Business and Technology (IAABT) is a non-profit organization founded by a small group of visionary Italian technology companies active in Michigan. Mission of the alliance is to promote Italian technology and serve the networking needs of Italian and American companies wishing to expand business opportunities in North America and in Italy. |
