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Peugeot and Ford to end some diesel cooperation

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04/05/2012 | 03:24pm CEST
An employee works in the assembly line at the PSA Peugeot Citroen plant in Poissy

PARIS (Reuters) - PSA Peugeot Citroen (>> PEUGEOT) and Ford (>> Ford Motor Company) will phase out their cooperation in some diesel engines, the companies said on Thursday.

PARIS (Reuters) - PSA Peugeot Citroen (>> PEUGEOT) and Ford (>> Ford Motor Company) will phase out their cooperation in some diesel engines, the companies said on Thursday.

"The two companies have decided to independently develop and manufacture their larger diesel engines," Paris-based Peugeot said in a joint statement with the U.S. car maker.

Announcing plans in February for a broad-based alliance with Ford's Detroit-based rival General Motors (>> General Motors Company), Peugeot had said the tie-up would not affect existing partnerships including joint diesel-engine production with Ford.

Peugeot and Ford will continue to cooperate on smaller diesels and a new generation of engines developed to meet new European emissions rules entering into force in 2014, the companies said.

(Reporting by Laurence Frost)

Stocks treated in this article : Ford Motor Company, General Motors Company, PEUGEOT
Stocks mentioned in the article
ChangeLast1st jan.
FORD MOTOR COMPANY -0.95% 11.51 Delayed Quote.-6.97%
GENERAL MOTORS CORPORATION -0.23% 38.3 Delayed Quote.-6.34%
PEUGEOT 0.83% 20.68 Real-time Quote.21.97%
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Financials ($)
Sales 2018 148 B
EBIT 2018 6 118 M
Net income 2018 6 083 M
Finance 2018 10 207 M
Yield 2018 5,97%
P/E ratio 2018 7,40
P/E ratio 2019 7,39
EV / Sales 2018 0,24x
EV / Sales 2019 0,24x
Capitalization 45 051 M
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Mean consensus HOLD
Number of Analysts 24
Average target price 12,3 $
Spread / Average Target 6,7%
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Managers
NameTitle
James P. Hackett President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Joseph R. Hinrichs Executive VP & President-Global Operation
Robert L. Shanks Chief Financial Officer & Executive Vice President
Jeff Lemmer Vice President & COO-Information Technology
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