Fiat is a major
automobile manufacturer, financial and industrial group based in
Turin, Northern
Italy.
The name is the acronym of Fabbrica Italiana Automobili Torino (the Italian Factory of Cars of Turin), founded by Sen. Giovanni Agnelli. His grandson Gianni Agnelli was Fiat president from 1966 until his death in January 2003.
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 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 corporation, starting from the late 1960s, has bought (or gained control of) a wide range of companies, including:
- Construction vehicles, produced by Fiat-Hitachi Construction and New Holland Construction.
- Buses - produced with the Fiat, Iveco or Irisbus names
- Aviation - aircraft and related components are produce by FiatAvio, which also controls EVL, a space industry.
- Vehicle components - the major Italian component maker Magneti-Marelli[?] is owned by Fiat, and in turn owns the other brands Carello, Automotive Lighting, Siem, Cofap, Jaeger, Solex, Veglia Borletti, Vitaloni, Automotive Lighting and Weber; other accessory brands include Riv-Skf and Brasilian Cofap.
- Steelmaking and metallurgy - Fiat owns Teksid and produces machines for the industry (also for car factories) with Comau (now Comau Systems), which bought the american Pico, Renault Automation and Sciaky.
- Publishing - notably, Fiat group also owns important editorial brands, like La Stampa (created in 1926 for the famous newspaper), Itedi, Italiana Edizioni. Some national and local newspapers are owned or otherwise controlled by the different companies. A specialised advertising space reseller is Publikompass, supported by the Consorzio Fiat Media Center.
- Financial services - An important insurance company, Toro Assicurazioni, allows Fiat to control a relevant part of this market (also with minor companies like Lloyd Italico, Augusta Assicurazioni) and to interact with some associated banks.
- Contstruction - Ingest Facility and Fiat Engineering work in various fields of construction, while IPI is a mediation company that also deals with the management of real estate properties.
- Information technology - Fiat is present in IT fields and in communications with ICT - Information & Communication Technology, Espin, Global Value, TeleClient, Atlanet.
- Leisure The group owns the Sestrieres[?] skiing facilities (being this village on Alps a creation of Agnelli family).
- Other services Fiat Gesco, KeyG Consulting, Sadi Customs Services, Easy Drive, RM Risk Management and Servizio Titoli are minor companies that work for public services, delivering services in economics and financial fields. Other activities include industrial securitisation (Consorzio Sirio), treasury (Fiat Geva), Fiat Information & Communication Services.
Fiat supports the Fondazione Giovanni Agnelli, an important foundation for social and economic research, and Palazzo Grassi, a famous ancient building in Venice, now a museum.
The group is present in many countries, not only in the West. Notably, it was one of the first companies to built factories in Warsaw Pact countries, with the best known examples in Vladivostok, Kiev and Togliattigrad[?]. Being Lada(Autovaz), most notably for the Niva. Fiat also has factories in Poland at Tychy, where Fiats small cars (the 126, Cinquecento and now Seicento) are made, The company was formely called FSM. As well as in Brazil, Turkey, China and India. Where local variants of Fiats are produced as well as the world car, the Palio[?].
See also: List of Italian companies
Fiat is also an English word meaning the exercise of authority. See: