Today 09/30/2016 - 05:35:16 PM
Peugeot SA 13.595€
CAC 40 4,448.26 PTS
At the occasion of the annual France- Kazakhstan Joint Committee meeting held in Paris on 7 March 2013, PSA Peugeot Citroën and Agromash Holding signed an agreement for the assembly and distribution of Peugeot passenger cars and LCV in Kazakhstan.
According to the agreement, assembly of the Peugeot passenger cars will start in June 2013 with a large range of models (301, 3008, 508 and Partner).
The production capacity will reach 4 000 units per year at the beginning. In the future, the sales may total more than 10 000 units per year.
The project is expected to provide employment for over 300 people in France and 150 in Kazakhstan.
Along with locally assembled models, Peugeot will offer to the Kazakh market the Peugeot 408 manufactured on the full-cycle Russian plant of PSA Peugeot Citroen in Kaluga.
Bernd Schantz, PSA Peugeot Citroën Managing Director for Russia, Ukraine and CIS commented: 'This project in Kazakhstan is an important milestone for PSA Peugeot Citroën business development in the region of Commonwealth of Independent States, which is one the priority zones for our group, along with Asia and Latin America. It will contribute to our growing and diversified presence in the region, with a larger manufacturing base dedicated to our local subsidiaries-driven operations in Russia and Ukraine and to our importers-based sales in Azerbaijan, Belarus and Moldova.'