Jan. 28 – Fiat continues the expansion of its operations in the Brazilian market, bringing along other Italian firms in the construction of the new plant of Suape, in the state of Pernambuco.
Geico is one of this companies, a technology leader in vehicle paints with a turnover in 2012 of €97 million. The Suape structure will have an area of 4.4 million m2 and will cost € 1.3 billion; it should be ready to operate by 2014. The contract between Fiat and Geico will have a €140 million over the next two years. Geico is already present in the continent, as it began operations in the early ‘90s by participating in some of the most important works in the area, with Fiasa in Betim (Brazil) and Fiat Auto in Cordoba (Argentina), in addition to other projects for several car manufacturers, such as Renault, Nissan, Mazda, Toyota, Mitsubishi, PSA and Ford.
