Chrysler 1999 Annual Report Download - page 53

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52
Fiat Engineering continued to provide support to the Fiat
Group and its suppliers in the development of industrial
programs in Italy and abroad.
The most important projects of 1999 carried out for Fiat
Group customers were concentrated in Brazil and involved
the construction of new industrial facilities and the expansion
of existing plants for Iveco and Fiat Auto.
Projects handled for customers outside the Group included:
❚Start of the work needed to redevelop the former Novoli
industrial site in Florence. Once the infrastructures are
completed, the compound will house a university campus,
a hotel and residential and commercial buildings with a
total of 200,000 square meters of available space.
❚Construction of a factory for the production of automotive
components in the State of Belo Horizonte, in Brazil.
❚Start of the work needed to redevelop former industrial
properties in Milan. These two sites, which were occupied
by Iveco OM and Maserati factories, will be transformed into
fully equipped residential complexes.
Fiat Engineering work on the design of the Florence-Bologna
and Turin-Milan lines for the High-Speed Railway Project
continued in 1999. The Sector participates in this project
both directly and through the CAV.E.T and CAVTO-MI
consortia.
Counting the contracts signed by foreign companies, new
orders booked in 1999 totaled 275 million euros, including
163 million euros from Fiat Group companies and 112 million
euros from external customers.
At December 31, 1999, the order portfolio totaled 487 million
euros: 91 million euros were attributable to Fiat Group
companies and 396 million euros to external customers.
Total revenues amounted to 277 million euros in 1999
(264 million euros in 1998), including 60 million euros
from international customers (22% of total revenues).
Consolidated operating income increased to 14 million euros
(5% of revenues), up from 5.4 million euros (2% of revenues)
in 1998.
Higher margins on new orders and effective programs
implemented to reduce overhead account for this
improvement.
Net income totaled 3 million euros (516 million euros in 1998).
The Sector created more than twice as much value than
in 1998.
FIAT ENGINEERING