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• DaimlerChrysler to Produce Dodge Durango with Patented Through-the-Road Hybrid Powertrain

• Audi paint shop in Neckarsulm comprehensively modernised / Phase three completed / Total investment in excess of DM 600 million

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• MINI Makes Its First Marketing Move In The U.S.
  Launches Search For Brand Partner 
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• Peugeot S.A. To Support Faurecia's Acquisition of Sommer Allibert's Automotive Business 
  .
• Saturn LST Concept A True Sports Sedan 

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News of  October 31, 2000

Peugeot S.A. To Support Faurecia's Acquisition of Sommer Allibert's Automotive Business

Faurecia announced that it is acquiring Sommer Allibert's automotive business.  

Peugeot S.A. has decided to support Faurecia, its 52.6%-owned subsidiary, to carry out this major transaction. It will therefore acquire SIT, which owns a 37.9% stake in Sommer Allibert. Faurecia and SIT will then jointly make a public offer to purchase all outstanding shares of Sommer Allibert. Faurecia will also make a public offer for SAI Automotive AG, the 69.3%-owned Sommer Allibert subsidiary, listed on the Frankfurt stock exchange, that consolidates Sommer Allibert's automotive business. Lastly, Peugeot S.A. will contribute SIT (and therefore its interest in Sommer Allibert) to Faurecia.  

The transaction, which is scheduled to be completed in first-half 2001, will raise Peugeot S.A.'s interest in Faurecia to around 70%. However, PSA Peugeot Citroën will maintain the new group's management independence and commercial relationship on an arms-length basis.  

The impact on PSA Peugeot Citroën's earnings will be neutral in 2001 and positive in the years thereafter.  

The deal represents a major advance in Faurecia's strategic development, enabling the company to become a global leader in all its core businesses (car seats, cockpits, door panels, front-end modules and exhaust systems). It also broadens the product lineup and diversifies the customer portfolio, which will benefit from an expanded range of skills and a greater capacity for innovation. Lastly, the transaction increases Faurecia's growth potential, and therefore its potential for profitability and the creation of shareholder value. As such, it is fully in line with PSA Peugeot Citroën's strategic commitment to owning a majority interest in a world-class, independently managed automotive equipment manufacturer that serves most of the world's leading carmakers. 

(October 25, 2000)

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