P.M. BRIEFING : Peugeot Ties With Fiat Urged
The French government suggested today that Peugeot, the nation’s largest private industrial company, link up with Fiat of Italy to form an auto group big enough to withstand growing Japanese competition in Europe.
The comment from a highly placed French official was made days after Daimler-Benz AG of West Germany and Mitsubishi Corp. of Japan announced a wide-ranging cooperation agreement involving cars and other industrial sectors. In addition, Volvo and Renault have entered a similar agreement.
The official, briefing journalists on condition he not be identified, said the government expects one or two of the six major European car manufacturers to disappear within the next 10 years.
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