Cooperation between Zastava and Fiat after settling of debt of €11.5m

Radio Television Company of Serbia has broadcast the announcement of the president of the Administrative Board of Zastava Vehicles Group, Milorad Savićević, according to which Zastava and Fiat have already agreed on commencement of assembling of "about 30,000 Fiat's models" in Kragujevac. On that occasion, Savićević said that he expected that the contract between Zastava and Fiat be signed in the middle of the year, whereas the assembling should start at the end of 2005.

Savićević says that nothing can be asserted until the papers are signed and the debt of €11.5m returned.

He confirmed that Zastava negotiated with Opel on assembling of its automobiles in Kragujevac. The negotiations with Opel, however, according to his words, are not so serious like those with Fiat.