HomeAutomotivePSA/Peugeot-Citroen Cuts Overheads To Survive

PSA/Peugeot-Citroen Cuts Overheads To Survive

citroen_c4_cactus_3

PSA/Peugeot-Citroen will move out of its Paris headquarters in 2017 to a location in the city’s western suburbs as part of a cost-saving push under its new part-Chinese ownership structure. PSA France director Xavier Duchemin revealed the decision recently on the sidelines of the building on the prestigious Avenue de la Grande Armee, near the Arc de Triomphe monument.

PSA’s 19th-century origins are in eastern France. It moved into the white, rectangular block facing onto one of the capital’s busiest roads in its 1960s heyday as it enjoyed international success with its 404 model.

The family-run group went on to buy rival Citroen in 1976 and the European activities of U.S.-based Chrysler two years later. Problems digesting the Chrysler acquisition and fearsome competition in the sector saw a business that made its first motor vehicle in 1889 lose traction over the next decades.

citroen_c4_cactus_4

It sold the building in 2012 for 245.5 million euros ($291 million) to raise cash as the international auto industry crisis tipped it into a loss. PSA has held a renewable lease on the building since. With Citroen’s headquarters in northern Paris also set to close, some 2,200 people will move to two locations west of Paris.

Goodyear 650x85(DSF)

Daniel Sherman Fernandez
Daniel Sherman Fernandez
www.dsf.my is a service to the public and other website owners. www.dsf.my is not responsible for, and expressly disclaims all liability for, damages of any kind arising out of use, reference to, or reliance on any information contained within the site www.dsf.my. While the information contained within the site is periodically updated, no guarantee is given that the information provided in this website is correct, complete, and up-to-date. www.dsf.my is not responsible for the accuracy or content of information contained inside.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular