Alfa Romeo Automobiles S.p.A. (Italian pronunciation: [ˈalfa roˈmɛːo]) is an Italian car manufacturer. Founded as A.L.F.A. ("Anonima Lombarda Fabbrica Automobili", translating to Anonymous Lombard Automobile Factory in English) on June 24, 1910, in Milan, the company has been involved in car racing since 1911. It was owned by Italian state holding company Istituto per la Ricostruzione Industriale between 1932 and 1986, when it became a part of the Fiat group. In February 2007, the Alfa Romeo brand was transformed into the current Alfa Romeo Automobiles S.p.A., a subsidiary of Fiat Group Automobiles, now Fiat Chrysler Automobiles Italy.