Group). The company announced both name changes in December 2014. FCA Italy included the Italy-based brands Abarth, Alfa Romeo, Fiat, Fiat Professional, Lancia, and the engine manufacturing subsidiary VM Motori. FCA US included the US-based brands Chrysler, Dodge, Jeep, and Ram, plus the Mopar service and parts organization. Other companies included firms working on production automation (Comau) and a metal foundry (Teksid, 84.8% share). Other joint ventures and subsidiaries are undertaken via the FCA Italy and FCA US companies. In early 2019, FCA sold auto-parts maker Magneti Marelli for €6.2 billion to Calsonic Kansei, a Japan-based company owned by American buyout firm KKR. History Origins The integration between Fiat and Chrysler dates back to 2009 after Chrysler filed for Chapter 11 bankruptcy reorganization on 30 April 2009. On 10 June 2009, Chrysler emerged from the bankruptcy proceedings with the United Auto Workers pension fund, Fiat, and the US and Canadian governments as principal owners. Fiat's initial purchase was a 20% stake; by January 2012, it grew to 58.5%. On 21 January 2014, Fiat completed the acquisition of the remaining 41.5% from the United Auto Workers, making Chrysler Group a wholly owned subsidiary. On 2 February 2014, Fiat Chrysler began trading on the NYSE under the ticker symbol "FCAU". The total cost of acquisition was 4.9 billion with an additional US$5.5 billion in pension liability. Fiat S.p.A. and Chrysler Group LLC merged into FCA on 12 October 2014 following approvals of the board on 15 June 2014 and shareholders on 1 August 2014. Five-year plan (2014–2018) On 6 May 2014, Fiat Chrysler Automobiles announced its 5-year business plan. The company expected that sales would increase to 7 million units, revenues to €132 billion, net income to €5 billion, and industrial debt would peak at €11 billion in 2015, and then reduce to €0.5-1 billion by end of 2018. The Group updated its business plan targets in January 2016 at the time it announced FY 2015. Much of the global growth was focused around Jeep due to its high visibility globally as well as the growing worldwide SUV market. Chrysler would be re-positioned as the company's mainstream North American brand to compete with Ford, Chevrolet, Toyota, and Volkswagen, while Dodge would focus on performance-based vehicles. Alfa Romeo would become the company's premium marque to compete with BMW, Lexus, and Audi, while Maserati would be the company's ultra-luxury brand to compete with Mercedes-Benz,