PSA Peugeot Citroen CEO Jean-Marin Folz said on Wednesday the automaker has no current plans to close more plants as it tries to cut costs to return to higher profitability.
PSA Peugeot Citroen CEO Jean-Marin Folz said on Wednesday the automaker has no current plans to close more plants as it tries to cut costs to return to higher profitability.
“After the closure of Ryton, I consider our industrial structure as fitting,” Jean-Martin Folz told Reuters when asked whether a plan to boost profits – expected to be detailed in September – would lead to more factory closures.
Folz did say that PSA needed to cut “structural costs” and this included fixed costs of all kinds, the report added.
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