Renault CEO: Not Interested In Acquiring Opel
06 Mai 2009 - 5:58PM
Dow Jones News
French carmaker Renault SA (RNO.FR) is not interested in
acquiring its troubled German competitor Adam Opel AG or any other
companies at this time, the company's chief executive said
Wednesday.
CEO Carlos Goshn told the annual shareholders meeting that
Renault is focused only on its recovery from the global economic
crisis. Though after the company recovers, it could consider
tie-ups with other carmakers, he said.
Goshn said that strengthening its cooperation with its Nissan
affiliate in Japan is vital.
Demand for automobiles faces a downturn in mature markets and in
large urban areas around the world, while that in emerging markets
and outside urban areas will grow, Goshn said.
He said electric cars will be launched onto the market in the
not-to-distant future.
Chief Operating Officer Patrick Paleta told shareholders that
the company's capacity utilization rate in Europe is just 57% and
that the company is taking measures to improve the situation. He
said the rate outside Europe is much better on balance.
He noted that Renault has been operating under capacity during
the global economic crisis, but added that it was below capacity
even before the downturn.
Renault also reiterated that this is not the right time to
launch a capital increase. The company added that it intends to
bring debt levels down over the next two years.
Company Web site: www.renault.com
-By A.H. Mooradian, Dow Jones Newswires; +33 1 4017 1740;
art.mooradian@dowjones.com.