Source: Tanjug/Beta | Sunday, 17.01.2021.| 13:59
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Merger of Fiat Chrysler and Peugeot-Citroen-Opel Finalized – Trade Union in Kragujevac Expects Increase in Production

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The merger between Peugeot-Citroen-Opel (Groupe PSA) and Fiat Chrysler Automobiles N.V (FCA), which leads to the formation of the Stellantis company, came into effect on January 16, the two groups announced. The Autonomous Trade Union of the FCA factory in Kragujevac, which produces Fiat 500L, expects an improvement and positive changes.

As announced previously, the trading of regular shares of Stellantis will begin this Monday at the Paris Euronext stock exchange and the Milan Mercato Telematico Azionario stock exchange, PSA and FCA say in a joint press release that was sent to Tanjug.

Stellantis will also list on the New York Stock Exchange on Tuesday under the “STLA” tag.

On Tuesday, January 19, a digital media conference will be held as a celebration of the establishment of the new company Stellantis.

The CEO of Stellantis, Carlos Tavares, will speak at the conference.

Let us remind that the shareholders of FCA and PSA approved the merger on January 4. The merger has led to the formation of the fourth biggest automotive group in the world.

Last year, FCA and PSA decided to join forces in order to more easily face the challenges in the automotive industry, such as the costs of financing technologies for the production of more environmentally friendly vehicles and the market crisis caused by the global pandemic.

Among others, Stellantis will own the brands Fiat, Jeep, Dodge, Maserati, as well as Peugeot, Opel and DS.

Trade Union in Kragujevac expects FCA and PSA to lead to increased production and salary raises

The Trade Union of FCA in Kragujevac, which produces Fiat 500L, expects an improvement and positive changes as a result of the merger.

Sasa Djordjevic, a representative of the Trade Union of FCA in Kragujevac, told Beta that the merger of two large world companies into an even bigger one, also a multinational company, meant the expansion of the market for the sale of the products on several continents.

– The workers of the factory in Kragujevac, which will be part of that multinational company, expect an increase in the production, the arrival of a new model, more work and higher salaries – Djordjevic said.

According to him, the merger should also lead to the arrival of new subcontractors and the opening of factories in Kragujevac and elsewhere in Serbia.

He said, however, that everything new takes time and that a merger is a long process. The company is also to change its name, which, he believes, will also take time.
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