Groupe PSA Reaches an Important Milestone in the Expansion of Its Manufacturing Operations in Algeria
12 November 2017 - 2:32PM
Business Wire
- Groupe PSA has created a joint
venture with three Algerian partners1
- A production unit will be fully
operational in 2019 with local operations gradually commencing as
from 2018
- Groupe PSA vehicles will be at the
core of the Algerian market and tailored to our customers’
needs
Regulatory News:
Groupe PSA (Paris:UG):
Jean-Christophe Quémard, Executive Vice President, Africa-Middle
East of Groupe PSA, has co-signed an agreement in Algiers with the
Algerian project partners1 to create an Oran-based manufacturing
company to build cars for the Algerian market.
The agreement was signed as part of the France-Algeria joint
economic committee (COMEFA), in the presence of Youcef Yousfi,
Algerian Minister of Industry and Mining, and Bruno Le Maire,
French Minister of the Economy, Finance and Industry.
Under the terms of the agreement, which was signed in the
presence of the ministers and authorises the project’s gradual
roll-out, Groupe PSA will hold 49% of the new joint venture’s share
capital, representing a total investment of some €100 million. As
part of the project, Groupe PSA will support the development of
Algeria’s automotive industry with a comprehensive upskilling and
training programme for employees as well as help expand the local
supplier base.
The plant will manufacture models that will enable Groupe PSA
brands to serve demand from Algerian customers, by offering cars
with the highest levels of quality, safety and environmental
protection.
Commenting on the new agreement, Jean-Christophe Quémard said:
“Algeria is one of Groupe PSA’s historical markets and we are
particularly proud to set up a manufacturing base there. The
country is at the centre of the Middle East and Africa region,
which is a key driver of profitable international growth as part of
our Push to Pass plan. The agreement will allow us to have
production capacity in the heart of the region and thereby achieve
our goal of selling 700,000 vehicles by 20212.”
About Groupe PSA
The Groupe PSA designs unique automotive experiences and
delivers mobility solutions to meet all client expectations. The
Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall,
as well as a wide array of mobility and smart services under its
Free2Move brand, aiming to become a great carmaker and the
preferred mobility provider. It is an early innovator in the field
of autonomous and connected cars. It is also involved in financing
activities through Banque PSA Finance and in automotive equipment
via Faurecia. Find out more at groupe-psa.com/en.
Media library: medialibrary.groupe-psa.com / @GroupePSA
_____________________________
1 The Algerian partners are Condor
Electronics, Palpa Pro and Entreprise Nationale de Production de
Machines-Outils (PMO).
2 In 2016, Groupe PSA sold 383,504
vehicles in the region.
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version on businesswire.com: http://www.businesswire.com/news/home/20171112005044/en/
Groupe PSAKaltoum El Youssoufi,
+212 664 715 603kaltoum.elyoussoufi@mpsa.comorPierre-Olivier
Salmon, +33 6 76 86 45
48pierreolivier.salmon@mpsa.com
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