PSA: the european committee approves the merger with Fiat-Chrysler


The staff representatives sitting on the committee of european group of PSA were approved Tuesday, the proposed merger between the French car manufacturer and its competitor, the Italian-american Fiat-Chrysler (FCA), a-t-on learned from union sources.

The project has been ” approved by a very large majority of the representatives of the employees “, told AFP Patrick Michel (FO), secretary of the european group committee, whose opinion was advisory and that ” this meeting brought together 28 representatives of the 150,000 european employees of Peugeot, Citroën, DS, Opel and Vauxhall “.

“Apart from the CGT “, which gave an opinion unfavourable and the IG Metall (German trade union of the metallurgy, ed), which is not pronounced “, the ” other union organizations, 15, 17, gave a favourable opinion to the project, said Anh-Quan Nguyen (CFE-CGC), a member of this committee.

The CGT “is concerned for the future of the employees, “which” should not bear the costs of this merger by supporting the costs of the financial transactions primarily motivated for the shareholders of both groups, ” she explained in a press release.

“IG Metall has refused to give an opinion because he had not had enough information” on the project, according to Jean-Pierre Mercier (CGT).

For FO on the contrary, “the PSA was reassured on this marriage,” on its commercial aspects, strategic and financial. And side employees, PSA is committed to maintaining the investments already planned in all the factories in Europe, “said Patrick Michel, in stating that” this marriage will be to the benefit of both companies “.

Noting a lack of data on FCA at this stage of the project, the CFE-CGC wishes to obtain “a quick overview and detailed just after” the signing of the marriage contract “and throughout the progress of the project,” stressed Anh-Quan Nguyen.

The management of PSA has indicated on Twitter that “teams” of the two groups “are continuing their work to finalize discussions and conclude a” memorandum of agreement ” in the coming weeks “.

In a statement sent to AFP, the director of human resources and the transformation of the group, Xavier Chéreau, considers that ” the support of the european social partners the proposed merger of the PSA-FCA is a testament to their confidence in this project “. Their favorable opinion ” is part of our policy of co-construction in creating the conditions of success “, he adds.

Last week, PSA had obtained an advisory opinion favorable and unanimous agreement of the representatives of the staff are French, at an economic and social committee central (CSEC) extraordinary. The CGT has not been elected to the CBSC.

This merger should enable PSA to train with the FCA, a new global giant in the automotive, on a parity of capital, without the plant closure. The new entity of more than 400,000 employees would become number four in the world, with 8.7 million vehicles sold under the brands Fiat, Alfa Romeo, Chrysler, Citroën, Dodge, DS, Jeep, Lancia, Maserati, Opel, Peugeot and Vauxhall.




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