By Andrew Ganz
Wednesday, May 4th, 2011 @ 11:02 am
 
Fiat CEO Sergio Marchionne says that his automaker will invest $742 million into a Grugliasco, Italy, assembly plant to build a new Maserati four-door sedan after workers at the facility agreed to certain concessions.

Marchionne, considered to be one of the most shrewd negotiators in the industry, was able to increase the length of work shifts while decreasing worker breaks in exchange for agreeing to build a new Maserati sedan at the plant. The automaker is expected to begin production of the new Maserati in late 2012 after unveiling the car at the 2012 Geneva Motor Show.

Fiat acquired the Grugliasco facility and its 1,100 Fismic union-represented workers from bankrupt Bertone about two years ago.

In an effort to boost the automaker's profitability at home, Marchionne has negotiated deals with three of Fiat's assembly plants over the last year, all of which resulted in concessions for workers in exchange for more work and increased productivity.