French automakers Renault and Peugeot have committed to increasing their orders from ailing components-maker GM&S Industry following the conversation of their CEOs with Economy Minister Bruno Le Maire, his ministry stated.
The future of the business, which has 277 individuals in central France and is dealing with liquidation, was a top priority of President Emmanuel Macron’s new administration, a government representative stated.
Renault accepted to raise its orders by 5 million euros to 10 million while PSA dedicated to raising its purchases by 2 million euros to 12 million, the ministry stated.
“These dedications will enable the company this year to reach a turnover close to 25 million euros, and make it possible for it to continue operations and pursue takeover talks,” it stated.
