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PSA Group to assemble and sell PEUGEOT Pick-Up trucks in Tunisia.

M2 EQUITYBITES-November 30, 2016-PSA Group to assemble and sell PEUGEOT Pick-Up trucks in Tunisia

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PSA Group (Paris:UG) announced on Tuesday the signing of a letter of intent with STAFIM, PEUGEOT's long-term partner in Tunisia, to assemble and sell a PEUGEOT brand Pick-up truck in Tunisia.

The company said this planned assembly plant will start operations in mid-2018, producing 1,200 units annually to meet the demand in the Tunisian market.

According to PSA, this agreement falls within the core model strategy of the 'Push to Pass' organic profitable growth plan, demonstrating the company's intention to build its presence in the Pick-Up segment.

With annual sales volume in excess of EUR250m, the PSA Group reportedly plays a key role in the growth of the Tunisian automotive industry.

A designer of automotive experiences and a provider of mobility solutions, PSA Group has three brands, Peugeot, Citroen and DS, as well as a wide array of mobility and smart services from its Free2Move brand.

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Publication:M2 EquityBites (EQB)
Geographic Code:6TUNI
Date:Nov 30, 2016
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