Renault is seeking two million euros in aid to modernise its foundry in Le Mans, France.

Carlos Ghosn, President and CEO of Renault, met on Thursday November 30 with Jacques Auxiette, President of the Pays de Loire regional council, Roland du Luart, President of the General Council of the Sarthe département, and Jean-Claude Boulard, President of the Le Mans municipal authority, to discuss a two million euros aid package to modernise the Le Mans foundry.

These senior officials agreed to submit the plan to their legislative bodies for approval.

Renault is to invest an estimated 20 million euros in the project, which will make it possible to maintain the jobs of the 500 workers involved in the foundry's activity.

The modernisation project will strengthen plant productivity and manufacturing quality.

The new facilities will also improve working conditions in terms of ergonomics and safety.

Renault will be introducing a new moulding line for brake parts (discs, hub discs and drums). After an 18-month modernisation period, the new equipment will be operational at end-2008.

ACI Le Mans, a wholly owned Renault subsidiary, is dedicated mainly to chassis activity
(stamping, casting, tooling, welding and assembly) for the Renault-Nissan Alliance. It is the
largest industrial employer in Le Mans, with a workforce of 3,000.

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