Wednesday, February 19, 2014

Dongfeng 800 million euros for Peugeot Citroen 14% stake

Dongfeng motor group, 19, said in a news release, the company intends to invest at about 800 million euros in France) (hereinafter referred to as PSA Peugeot Citroen group, and the French government and the Peugeot family, PSA, its holding companies become the first big shareholder, marking the China automobile suppliers strategically for the first time in the world famous auto enterprise.

France local time, on the 18th, dongfeng motor group co., LTD. (hereinafter referred to as dongfeng), the French government, the Peugeot family's holding company and PSA Peugeot Citroen group, the parties signed a memorandum of understanding (hereinafter referred to as the PSA).Respectively according to the memorandum of understanding, dongfeng and the French government to inject some 800 million euros in PSA, after completion of the transaction, dongfeng Peugeot family holding company, the French government and PSA, will become the first big shareholder, the tripartite owns about 14% respectively.

Dongfeng and PSA also will strengthen cooperation in the field of industrial and commercial, signed a framework agreement.Future dongfeng and PSA will increase in technology research and development, procurement, manufacturing and marketing cooperation, lifting platform scale, enlarge the scale effect of core power assembly, improve r&d efficiency and level, the implementation of the whole value chain of strategic synergy, further enhance the international competitiveness of dongfeng and PSA.

According to the relevant person in charge of dongfeng motor group 19, based on the consensus, dongfeng and PSA will further deepen the whole value chain cooperation on a global scale.Including cooperation plan, both sides set up of the whole value chain in China r&d center, is committed to auto joint development of new technologies, new products, mainly for dongfeng, PSA, shenlong automobile company research and development services;The two sides set up overseas sales company, responsible for PSA, dongfeng-citroen automobile company product sales and service business in Asia, especially in asean, and collaboration in other overseas markets.

Wuhan academy of social sciences, experts said Li Chunyang dongfeng and PSA, deepen strategic cooperation is both sides of the practical need of further complement each other and play their respective advantages, will further enhance the competitiveness of both sides in the global auto market.Both sides in the field of technology research and development, sales network synergy in the field of play, will drive the dongfeng brand passenger car technical ability rapid transformation and upgrading, the technical system directly with the international community, for the dongfeng brand passenger car's long-term sustainable development, large-scale overseas exports to provide important help.

Into a multinational company at the same time, through the management and decision-making, will be for dongfeng the cultivation of the talent team, operations management play an important role in promoting the advance of internationalization, and help to optimize the market structure of PSA adjustment, maximize the synergies of play.

It is understood that the joint venture dongfeng-citroen automobile strategic cooperation will be to our mutual development have a profound impact.In the future, the parent company is committed to accelerate dongfeng-citroen automobile company development, prompting dongfeng-citroen automobile company scale of production and sales of 1.5 million vehicles in 2020 years.Shenlong automobile company to produce brand, dongfeng Peugeot and Citroen brand cars, implementation in Asia and other emerging market sales and production cooperation, with the globalization of PSA in dongfeng cooperation will play a more pivotal role.

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