The European Commission announced yesterday, June 25, 2007, that it gave its consent to the grant of aids coming from the European globalization adjustement (EGF) to the subcontractors of PSA Peugeot-Citroën and Renault, affected by the restructurings linked to globalization. The aids will amount to 2.558.250 euros for PSA's subcontractors and 1.258.030 euros for Renault's. (Ref. 070561)
Almost three months after the French government asked that the automotive sector’s subcontractors (PSA’s – on this topic, see our story 070230 and Renault’s – see our story 070293) beneficiate from the EGF’s financial support, the Commission gave its consent to both of these cases. These will be the first two aids coming from the fund since it was created at the end of 2006. The amounts asked to the EGF are of 2.558.250 euros for PSA Peugeot-Citroën’s subcontractors and of 1.258.030 euros for R
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