Toyota denies bidding for Fiat's Termini plant

Toyota Motor Corp is not interested in bidding for the Sicilian car plant that Italy's Fiat plans to shut by end 2011, a Toyota spokeswoman and an Italian government adviser said on Wednesday.

Italy's government, via adviser Invitalia, is seeking a bidder for the loss-making Termini Imerese plant, which employs about 1,400.

"So far, our offices have not received any manifestation of interest from the Toyota group," Invitalia said in a statement, denying Italian media speculation of a possible bid from the Japanese carmaker.

A spokeswoman for Toyota Europe said the group was not in talks, nor planned to take over the Termini plant, adding that the Toyota Europe did not currently need to boost its capacity in the continent.

Fiat, Italy's biggest industrial group, is spinning off its car-making business from its broader industrial activities.

Fiat, whose ambition is to become a global player through improved efficiency, owns 20 per cent of US-based Chrysler and has options to raise its stake to 35 per cent and then 51 per cent.

Shares in Fiat closed up 1.02 per cent at 11.85 euros.