France’s Montebourg Asks PSA Peugeot for Disclosure on Shutdowns

French Productive Recovery Minister Arnaud Montebourg asked PSA Peugeot Citroen (UG) to disclose any plans for plant closures as soon as possible, amid speculation the carmaker may decide to shut down several sites.

“These leaks, rumors or informations are causing concern for thousands of workers and families,” Montebourg wrote in the letter to PSA Chairman Philippe Varin dated June 29, according to a copy e-mailed by the ministry yesterday. “It would be essential to provide all the necessary transparency.”

The decisions that PSA Peugeot Citroen might take would “inevitably” have consequences for all of the car industry, particularly sub-contractors, Montebourg wrote in the letter. He asked management to disclose its intentions as soon as possible and in a precise manner.

To contact the reporter on this story: Rudy Ruitenberg in Paris at rruitenberg@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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