SPAIN: PSA to invest $US541 million in three years – FT

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PSA Peugeot Citroen will invest over 100 billion pesetas ($US541 million) in Spain
over the next three years, the Financial Times reported.

Much of the investment in the Madrid and Vigo factories will go into new technology
to produce five new vehicles, the FT said.

The factories employ 16,000 people and produce 3,000 vehicles a day. Output
was 600,000 cars last year of which 80 per cent were exported.

The factories also exported 45,000 completely knocked down (CKD) parts sets
for assembly in 10 countries.

This year they plant to produce 620,000 vehicles, 465,000 for export, and 70,000
CKD kits, the FT added.

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