Oct 6 PSA Group statement:
* PSA group, SAIPA have signed a joint-venture agreement to
produce and sell Citroen vehiclues in Iran
* The 50/50 joint-venture lays the foundations for a
strategic partnership between the two companies.
* Manufacturing will take place at the Kashan plant in Iran,
which will be 50 pct owned by PSA Group.
* The joint-venture will invest more than 300 million euros
in manufacturing and R&D capacity over the next five years.
* The agreement will be backed up by technology transfers
and a significant level of local content.
* Citroen models will be sold throughout the country via a
network dedicated exclusively to the brand. No less than 150
Citroen outlets will open in the next 5 years.
* Source text for Eikon:
Further company coverage:
(Reporting By Dominique Vidalon)