• Register

Chrysler swings to Q1 loss

: Wednesday, May 14 - 2014 @ 09:34

Chrysler Group has reported a $690m in the first quarter of this year, due to charges related to its merger with Italian automaker Fiat, the Associated Press has reported. Without the one-time charges related to the merger, the company’s net income more than doubled to $486m. In January, Fiat paid $3.65bn to a union-run health care trust to acquire Chrysler’s remaining shares. As part of the deal, Chrysler agreed to pay $700m to upgrade its factories, and as a result took a $672m charge in the quarter to meet those commitments. It also booked a $540m non-cash loss on extinguishment of debt related to the merger.

Today's Top Stories

Posted by

Wednesday, May 14- 2014 @ 9:34 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

AME Info Services

Business DirectoryVIEW ALL

Search by name

Search by industry

Browse alphabetically


Search for jobs

Latest Jobs