French makes fear for suppliers

Renault and PSA Peugeot Citroen consider taking stakes in suppliers as financial crisis bites
27 March 2009

Renault and PSA Peugeot Citroen have issued a warning about the financial state of their suppliers in the current economic climate.

PSA has said that 85 of its suppliers are in serious financial difficulty. However, the company stopped short of saying it would buy stakes in its suppliers, something that Renault has said it would be prepared to do.

Patrick Pelata, Renault’s chief operating officer, said, "Equipment makers are facing the same constraints as car makers and in certain cases, we must find solutions together.

"That could be a stake purchase or restructuring."

Mark Tisshaw

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