Fiat Chrysler Automobiles NV is considering a potential sale of its robotics arm Comau at 1.5 billion euros to 2 billion euros ($1.7 billion to $2.3 billion), according to a Bloomberg report citing people familiar with the matter who asked not to be named. Comau builds automated manufacturing systems and robots for industrial purposes. The anonymous sources said that the matter is still private and talks are in very early stages, while hinting that there is a possibility that a sale process could start early next year (reported by Bloomberg).
The report comes close on the heels of Fiat’s decision in August to sell its car-parts unit Magneti Marelli for 6.2 billion euros. Is Fiat trying to concentrate more on its core business of manufacturing automobiles and therefore stepping back from some of its ancillary operations, in the wake of intensifying global trade tensions? Several multinational auto companies have indicated that their businesses are hurting due to the tariff-slapping battle and other trade conflicts between the U.S. and China this year.