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Peugeot to purchase $500m parts per year from Iranian manufacturers

TEHRAN, May 9 (Mehr News Agency) -- French automaker Peugeot is planning to annually purchase from Iranian producers auto parts worth $500 million, Peugeot spokesman said.

In case of favorable political situation in Iran in the future, Peugeot will purchase auto parts worth $500 million from Iranian producers, the Persian service of Iranian Students News Agency (ISNA) quoted the French automaker official as saying to Bloomberg.

Iran is going to turn into one of Peugeot's main sources of auto part supplies, he said adding, the company will continue and enhance its cooperation with Iran Khodro - the largest auto producer in the Middle East region.

Also, in another development, chairman of the Iranian Auto Part Producers Association Najafi-Manesh said on Tuesday that, in its bid to supply the required automobile parts from non-European sources, Peugeot has decided to open a branch office in Iran. The measure would further facilitate the major car manufacturer's purchases of automotive parts from Iranian producers, he added.

He also pointed to the establishment of a joint committee comprising of both Iranian and French experts from Peugeot and Citroen companies. He said the committee is scheduled to be held twice every year in Iran and France to pave the way for the export of Iranian-made automobile parts on a monthly basis.

Iran's last year exports of auto parts to Peugeot stood at about $300 million.

... Payvand News - 5/10/06 ... --

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