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December 18, 2019 04:51 AM

Fiat Chrysler to meet unions Friday to discuss PSA merger

Reuters
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    MILAN -- Fiat Chrysler Automobiles will meet Italian trade unions in Turin on Friday to discuss the details of a merger deal with French rival PSA Group, the FIM-CISL union said.

    FCA and PSA said on Wednesday they had agreed a binding $50 billion merger to create the world's fourth-largest automaker.

    FIM-CISL said in a statement that union representatives would go into the agreement details on Friday and start talks to guarantee the development of Italian plants and jobs.

    FCA has said it expects 3.7 billion euros ($4.1 billion) in annual synergies from the merger with no plant closures.

    The union said it welcomed the decision of the two automakers to include two union representatives - one from FCA and one from PSA - to the 11-strong board of the merged group.

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        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
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