PEUGEOT : PSA Peugeot Citroën Industrial Restructuring Plan: Procedure Not Suspended

Regulatory News:

PSA Peugeot Citroën (Paris:UG) takes note of the Paris Appeals Court's decision of 28 January 2013 overruling a decision handed down by the Paris High Court (Tribunal de Grande Instance) on 25 September 2012, which rejected a complaint filed by the CGT labour union representatives of Faurecia Intérieurs Industries.

The Appeals Court's decision does not call into question the information and consultation procedure carried out by PSA Peugeot Citroën within its Automotive Division. On this point, the Appeals Court dismissed the CGT FII's request that the procedure be suspended for non-compliance with the obligation to consult the European Works Council.

The information and consultation procedure concerning PSA Peugeot Citroën's industrial restructuring project has therefore been neither suspended nor annulled.

The Paris Appeals Court did, however, find that Faurecia Intérieurs Industries needs to conduct an information and consultation procedure with its European Works Council concerning the possible consequences of the Automotive Division restructuring project before PSA Peugeot Citroën may effectively implement the restructuring plan.

Consequently, and without prejudice to any further action that could be taken by PSA Peugeot Citroën or one of its subsidiaries, Faurecia Intérieurs Industries will begin the information and consultation procedure with its European Works Council immediately.

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