Monday, Dec 22, 2014Monday, Dec 22, 2014

Peugeot and Toyota close to Sevelnord deal

Published on Jul 20, 2012 9:45 AM

(REUTERS) - Japanese automaker Toyota is close to an agreement to purchase light commercial vans from PSA Peugeot Citroen's threatened Sevelnord plant in northern France, La Tribune reported.

Under the tentative agreement, Toyota would buy between 5,000 and 10,000 vans annually from 2013, rebadged with its own brand, the French weekly said on its website, citing unnamed sources.

Peugeot declined to comment on the report.

The company last week announced 8,000 job cuts and the closure of another French plant but said it was hopeful that Sevelnord, a joint venture with Fiat, would survive the Italian automaker's planned withdrawal.

If you are not a subscriber, you can get instant, unlimited access here