Fiat to takeover historic carmaker Bertone to design future cars for Chrysler

Fiat takes over historic carmaker Bertone

MILAN — The Italian automaker Fiat on Thursday won a bid to take over the bankrupt Italian car company Bertone, which will help design cars for the U.S. automaker Chrysler, the Italian Economic Development Ministry said.

Fiat, which owns a controlling stake in Chrysler, has pledged to invest euro150 million over the next three years in Bertone, representing the best offer for investors, the ministry said.

Bertone has specialized designing cars over its 97-year history for such brands as Fiat, Ferrari, Alfa Romeo and Lamborghini.

“The sale to Fiat guarantees the future of a historic Piemontese company. In fact, the plan foresees the reabsorption of 1,137 workers, who will be gradually reinserted into their jobs, and the integration with Chrysler for the production in Italy of some models for the American auto company,” Economic Development Minister Claudio Scajola said in a statement.

Fiat took a 20-percent controlling stake in Chrysler in June, and its CEO Sergio Marchionne is running both automakers. The deal was based on the transfer to Chrysler of clean-engine and small-car technology, but Marchionne has recently said that he underestimated the value of Chrysler technology, knowledge and platforms for Fiat.

Among the models designed by Bertone are the Opel Astra, Alfa Romeo 2600 Sprint, the Fiat Punto Cabriolet and the BMW Garmisch 2200Ti, the forerunner of the BMW 5-series.

Bertone filed for bankruptcy protection in 2007, and stayed away from the Geneva Auto Show last year for the first time in more than 50 years due to its financial constraints.