PSA Peugeot Citroen CEO Jean-Marin Folz said on Wednesday the automaker has no current plans to close more plants as it tries to cut costs to return to higher profitability.

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“After the closure of Ryton, I consider our industrial structure as fitting,” Jean-Martin Folz told Reuters when asked whether a plan to boost profits – expected to be detailed in September – would lead to more factory closures.


Folz did say that PSA needed to cut “structural costs” and this included fixed costs of all kinds, the report added.


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