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Renault does not rule out plant closings

2020-02-14T10:39:04.138Z

"We have no taboos and we do not rule out anything," said the acting director general, after a difficult 2019 year.



Renault's acting chief executive, Clotilde Delbos, did not rule out that the automaker is closing factories on Friday after recording its first losses in ten years last year at a press conference.

Read also: New “golden rules” to relaunch the Renault-Nissan-Mitsubishi Alliance

" We have no taboos and we do not exclude anything, " said Clotilde Delbos, asked about the possibility that factories in France or around the world could be closed as part of a savings program of two billion d 'euros over three years.

" We will review all our types of costs and charges (...) Some of these costs will involve restructuring charges ," said Clotilde Delbos, recalling that the group was currently carrying out a strategic review of its activities. It acknowledged that Renault and its Japanese ally Nissan had excess production capacity and promised announcements next May. Renault and Nissan are looking to improve their performance by sharing their technologies and factories more closely.

Read also: Luca de Meo lowers his salary to come to Renault

The diamond group fell into the red last year for the first time since 2009, recording a net loss of 141 million euros without seeing the end of the tunnel after its first year without its emblematic boss Carlos Ghosn. For 2020, in a world market still in decline, Renault, whose turnover fell last year by 3.3% to 55.5 billion euros, anticipates a further decline in its profitability.

Source: lefigaro

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