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Peugeot and Ford to end some diesel cooperation

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04/05/2012 | 03:24pm CET

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

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
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Financials ($)
Sales 2016 142 413 M
EBIT 2016 6 364 M
Net income 2016 6 997 M
Finance 2016 7 988 M
Yield 2016 6,49%
P/E ratio 2016 7,27
P/E ratio 2017 7,70
EV / Sales 2016 0,30x
EV / Sales 2017 0,29x
Capitalization 50 188 M
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Mean consensus HOLD
Number of Analysts 26
Average target price 12,8 $
Spread / Average Target 1,6%
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NameTitle
Mark Fields President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Robert L. Shanks Chief Financial Officer & Executive Vice President
Raj Nair Chief Technical Officer
Marcy Klevorn Chief Information Officer & Group Vice President
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