See you on November 26th. This is the date on which the members of the European Committee of the French automobile group PSA are summoned to launch the process of consultation of the employees on the project of mega-fusion of their group with Fiat-Chrysler, one affirmed this Saturday, November 9 of the unions . 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 Fiat Chrysler Automobile NV" indicates the convocation. The meeting is to take place in Poissy, Yvelines, where there is a factory and PSA offices.
October 31, PSA, whose French State is a 12% shareholder, and Fiat-Chrysler have 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.
No deletion of brands
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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The merger between the two automakers will be "without plant closure" assured the two companies, noting that the annual synergies are estimated at "3.7 billion euros", for a company whose consolidated turnover is valued at 170 billion euros.