Chrysler 2007 Annual Report Download - page 31

Introduction
Principal transactions that affected the scope
of consolidation in 2007
■On February 28 2007, the procedure for the sale of Ingest
Facility S.p.A. to Pirelli RE Facility Management was concluded
on receiving the approval from antitrust authorities.
■On March 2 2007, the sale of Meridian Technologies Inc. was
finalised on receiving approval from the competent authorities
and on the closing of the financing to the purchaser from
financial institutions.
■At the end of April 2007, Magneti Marelli reacquired control
of the automotive spare parts distribution operations. As a
result of this, the After Market Parts and Services business line,
which operates at a worldwide level in the distribution of spare
parts in the Independent After Market sector, was consolidated
as of May 1 2007.
■In May 2007, the Fiat Group acquired the entire ownership of
the I.T.C.A. group which carries out its business in the
automotive supplies sector.
■In August 2007, Fiat acquired the entire ownership of Teksid
Aluminum S.r.l.
■On December 28 2007, the Fiat Group completed operations
necessary for the establishment of a 50-50 joint venture with
Tata Motors. As of that date, therefore, the assets and liabilities
of the Indian business of Fiat Group Automobiles were
transferred to the joint venture and therefore deconsolidated.
Effective January 1 2007 the activities which were previously
part of the Services Sector were transferred to Fiat
Services S.p.A., a company included among Holding
companies and Other companies. Fiat Services S.p.A. and its
subsidiaries outside of Italy provide administrative and
professional services to Fiat Group Companies. In accordance
with IAS 14 –
Segment Reporting , effective January 1 2007, the
Services Sector is no longer represented and the relevant
figures for 2006 have consequently been reclassified. Fiat
Services activities are organised in three service units:
Transactional Processes (Finance and Payroll), Information and
Communication Technology and Customs Services.
Report on Operations Financial Review of the Group30
Financial Review of the Group