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Renault, Peugeot commit to raise orders from troubled parts maker - ministry
May 21, 2017 / 5:24 PM / 7 months ago

Renault, Peugeot commit to raise orders from troubled parts maker - ministry

PARIS (Reuters) - French car makers Renault and Peugeot have commited to increasing their orders from ailing components-maker GM&S Industry after their chief executives spoke with Economy Minister Bruno Le Maire, his ministry said on Sunday.

A Renault logo covered with mud and dust is seen on a car in Paris, France, March 15, 2017. REUTERS/Gonzalo Fuentes/Files

The future of the company, which employs 277 people in central France and is facing liquidation, was a priority of President Emmanuel Macron’s new administration, a government spokesman said on Wednesday.

Renault agreed to raise its orders by 5 million euros to 10 million while PSA committed to lifting its purchases by 2 million euros to 12 million, the ministry said in a statement.

“These commitments will allow the firm in 2017 to reach a turnover close to 25 million euros, and make it possible for it to continue operations and pursue takeover discussions,” it said.

Reporting by Sybille de La Hamaide; editing by Richard Lough

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