PSA-Fiat-Chrysler: European Group Committee November 26 – La Croix

PSA Fiat Chrysler European Group Committee November 26 La Croix - PSA-Fiat-Chrysler: European Group Committee November 26 - La Croix

The members of the European committee of the French car group PSA are convened on November 26 to launch the process of consultation of employees on the mega-merger project of their group with Fiat-Chrysler, we learned Saturday union source.

The agenda of the meeting is the "project of merger between the PSA group and the FCA group by the merger between the company Peugeot S.A. and the company Fiat Chrysler Automobile NV" indicates the notice of which the AFP obtained a copy.

The meeting is to take place in Poissy (Yvelines) where there is a factory and PSA offices.

On October 31, PSA – whose French state is a 12% shareholder – and Fiat-Chrysler unveiled their plan to create a new global automotive giant, equal in capital, supposed to be without closure factory.

The new entity of more than 400,000 employees would be based in the Netherlands, but would remain listed in Paris, Milan and New York.

It would become the world's number four in the sector with 8.7 million vehicles sold under the Fiat, Alfa Romeo, Chrysler, Citroen, Dodge, DS, Jeep, Lancia, Maserati, Opel, Peugeot and Vauxhall brands.

PSA boss Carlos Tavares said Friday that he saw "no need to remove brands" in the future entity.

In 2018, PSA employed some 211,013 employees worldwide, with its equipment subsidiary Faurecia, which has more than 92,000 employees, and Fiat-Chrysler 198,545.

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