Monday, January 4, 2016

Marchionne: “For Ferrari a new start. A bond in the first half “- Il Sole 24 Ore

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This entry was posted on January 4, 2016 at 11:29.
The last change is the January 4, 2016 at 11:31.

The Ferrari shares made their debut at the Milan Stock Exchange this morning at 9 with the symbol RACE, the same who on Wall Street, scoring an opening price of EUR 43, down from $ 48 (about EUR 44) of the closure of Wall Street on 31 December. The title Fca meanwhile opened at 8.48 euro compared with 12.92 late 2015, serving for the first time the “loss” of Ferrari.

The ceremony of the 9 spots Sergio Marchionne, Ferrari president, and John Elkann, chairman of Fiat Chrysler, ring the bell symbolic of start of trading on the presence of the Prime Minister Matteo Renzi. The latter thanked the leaders for Fiat Chrysler Ferrari also quoted the Milan stock exchange and has referred to as a symbol of Italy that “there is now.” Raffaele Jerusalmi, head of the Italian Stock Exchange, said the title Ferrari will immediately FTSE-Mib index of the 40 most important of the Milan Stock Exchange. John Elkann spoke of “a beautiful day, exciting,” and cited as “a guarantee of stability,” the covenant with Piero Ferrari.

In the press conference following the ceremony, Marchionne said he was not concerned about the decline in the title Ferrari: “It is a strange day and we are in the market for 40 minutes,” he said. In the future of Ferrari there is a bond that will be launched “in the first half 2016″ and increased production until 8-9mila cars by 2019 from 7,700 planned for this year. The manager reiterated his vision of Ferrari as “non-automotive company,” but warned that the extension of the brand to other activities is “a very difficult exercise.”

He added not rule out a return to Formula One Alfa Romeo, but “unlikely to happen without the help of some other team.” As for Fiat Chrysler, confirmed once again its financial targets for 2018, and seems to distance the maxifusione of which has been discussed frequently in recent months: “The speech will not close this year, the group has to work to achieve the goals in 2018 and it will then show up in the best conditions for an alliance. But in that case there will be me. “



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