April 19, 2024

Didcot Gateway

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Fiat Chrysler to list robotics unit Comau after PSA merger

MILAN — Fiat Chrysler Automobiles said it planned to record its robot-earning business enterprise, giving much more detail Monday about the upcoming of Turin-centered Comau, which it previously planned to spin off.

Comau will be spun off shortly following FCA completes its merger with Peugeot maker PSA and its shares dispersed to shareholders of the new group.

The deal to produce the world’s fourth-major automaker is expected to be finalized in the initial quarter of subsequent 12 months.

FCA explained that it experienced appointed Paolo Carmassi as Comau’s new CEO to pursue the listing. For the earlier 4 several years Carmassi ran scientific gear maker Malvern Panalytical, a unit of Britain’s Spectris, and earlier labored for much more than twenty several years at Honeywell, it explained.

It also appointed Alessandro Nasi, a board member of Exor, the holding business of Italy’s Agnelli household which controls FCA, as Comau’s new chairman.

Exor is set to come to be the major one shareholder of the blended group following FCA’s merger with PSA, and Comau’s prime shareholder following its listing.

“The appointments … are a substantial step ahead for Comau as it prepares for lifestyle as a community business,” FCA CEO Mike Manley explained in a assertion.