February 14, 2001

SIEGELMAN ANNOUNCES FIAT SUBSIDIARY TEKSID, INC. TO EXPAND IN SYLACAUGA, ALABAMA

$41 Million Expansion will create 106 jobs

Sylacauga, AL . . . Governor Don Siegelman and representatives of Fiat Group subsidiary Teksid, Inc. announced today plans for a $41 million expansion that will create more than 100 new jobs in the Sylacauga area. Since Siegelman took office January 1999, more than 43,000 jobs have been created through new and expanded industry across the state. Businesses have invested more than $5.7 billion to further economic development throughout Alabama.

“Alabama is simply a great place to do business – an economic leader in our region, in the nation and around the world,” said Siegelman. “The new jobs created by Teksid locating in Sylacauga will help keep Alabama’s families together and give them the hope and dream of higher quality of life.”

The new Teksid plant will produce aluminum cylinder blocks, using a high-pressure die casting technology. At full production in 2004, the new plant will employ 106 workers. It will be built on the same complex where Teksid Aluminum Components has been constructed. In November 1999, Siegelman announced this initial project, a $75 million aluminum manufacturing plant that will employ more than 400 workers by 2002.

Teksid, A Fiat Group Company, is the world’s largest producer of metallurgical products for the automotive industry. The company employs 15,000 people worldwide. The Fiat Group, founded as an automotive manufacturer in 1899 in Italy, is now one of the world’s largest industrial groups, operating 249 production facilities and employing more than 220,000 people.

Siegelman was joined for the announcement by Sylacauga Mayor Bruce Carr, Massimo Fracchia, chairman of Teksid Aluminum Components, Inc., Francesco Rangoni, senior vice president and general manager of Teksid Aluminum Division, Crystal Ricks, Executive Director of the Sylacauga Chamber of Commerce, city council members, community leaders and Sylacauga citizens.

“We have been extremely pleased with the kindness and support received from the state of Alabama, the city of Sylacauga and Talladega County,” said Rangoni.

For more information, please call the chamber of commerce at 256-249-0308 or visit our website at www.sylacauga.net/chamber.

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