Fiat And PSA To Sign Merger Agreement By The End Of The Year

Fiat Chrysler and PSA Group told their employees they would sign a binding merger agreement in coming weeks.

In two separate communications through internal channels, obtained by Reuters on Tuesday, the two groups told employees that more than 50 people were involved in the process.

Nine working groups were established, led by FCA Group Treasurer and Global Head of Business Development David Ostermann, and by PSA Executive Vice President Program and Strategy Olivier Bourges, the documents said.

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MDarringer - 11/26/2019 10:39:20 AM

+1 Boost

A weak car company with overcapacity in production merges with a weaker company with production overcapacity and a lineup desperately needing full replacements. This will not end well.

PUGPROUD - 11/26/2019 12:41:48 PM

+1 Boost

Agreed. As he did with PSA to turn a huge loss into profits within 18 months the new CEO will cut plants and workforce drastically and quickly. In the end unless it develops superior quality products soon all this merger did was buy time until it finds another partner to buy more time before the end. Its a product driven cash burning industry under great change. There will be blood in the water when the next global recession hits.

MDarringer - 11/26/2019 1:16:11 PM

+1 Boost

These need to die: Lancia, Fiat, Alfa Romeo, Chrysler, DS, Opel, Ram (fold back into Dodge).

Dodge/Jeep and Peugeot could work, but even Citroen is redundant.