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News of April 24, 2002

PSA Peugeot Citroën Proposed Sale of the Villers la Montagne Foundry

Paris - The PSA Peugeot Citroën Central Works Council will be consulted on April 25 concerning a project to sell the Villers la Montagne foundry to Manzoni Bouchot.

Located in the Meurthe-et-Moselle department, the foundry employs 385 people. It is specialized in the high-pressure die-casting of aluminum parts, particularly transmission casings, clutch housings and cylinders blocks.

Manzoni Bouchot, a subsidiary of Leman Capital, is the fourth largest die-casting company in Europe.

The transfer of the Villers la Montagne facility to Manzoni Bouchot, whose capital expenditure and development outlays are primarily focused on aluminum die-casting, will enable PSA Peugeot Citroën to meet its growing needs, while positioning the foundry to develop its business and create local jobs by serving new customers.

(April 17, 2002)

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