Strategic alliances continue to be the order of the day in the auto-components industry. For example, Italy's Fiat SpA is assuming a particularly strong position on both sides of the Atlantic Ocean. Following the recent strategic alliance between Magneti Marelli, its components subsidiary, and Midas, the Chicago-based car-repair and service group, the Italian automobile giant is merging its foundry activities with those of France's Regie Nationale des Usines Renault SA. The deal creates a world leader in components, with estimated sales of $2 billion. It also strengthens ties between Fiat and Renault, which recently joined their bus-manufacturing operations.