Peugeot (PSA): strengthens in 'aftermarket' in China
(CercleFinance.com) - This morning the car maker Peugeot SA (PSA) announced buying a majority stake in the Chinese wholesaler of automotive components, Longstar, hence reinforcing its "aftermarket" business.
The terms of the deal were not specified.
Based in the Fujian Province, Longstar has two large logistics centres and about 40 distribution sites that cater for 4,000 independent automotive repairers. In doing so, the target offers 10,000 spare parts references selected from 18 international equipment manufacturers.
PSA hence says that it is continuing the deployment of its strategic plan, after taking stakes in two other spare parts distributors in 2018.
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The terms of the deal were not specified.
Based in the Fujian Province, Longstar has two large logistics centres and about 40 distribution sites that cater for 4,000 independent automotive repairers. In doing so, the target offers 10,000 spare parts references selected from 18 international equipment manufacturers.
PSA hence says that it is continuing the deployment of its strategic plan, after taking stakes in two other spare parts distributors in 2018.
Copyright (c) 2019 CercleFinance.com. All rights reserved.