Word: citro
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...months ago, Fiat leaped further across national borders-and advanced the cause of European integration-by taking over France's Citroën. Agnelli personally negotiated the deal with some friends, France's tiremaking Michelin family, which controls Citroën. Agnelli sought an outright takeover, but Charles de Gaulle objected and the French government limited Fiat to a 15% holding in the firm. In fact, Fiat will get effective control of Citroen through a complex holding-company arrangement. "Have no doubts about it," Agnelli told a friend. "The merger is complete." When the Fiat-Citro...
...last spring, all the ICC's fixed teams in ports and transportation centers of the North as well as the South had been withdrawn. There were no more investigations. In Viet Nam, as in Laos and Cambodia, the ICC was constantly broke. In Saigon, its rickety Citroëns with their tattered ICC flags had become mobile monuments. At one point this year, the ICC in Viet Nam was so badly squeezed for funds that Aigle Azur, the French air charter that provides the battered, ancient Boeing 307 Stratoliners for the weekly commission flights linking Saigon, Pnompenh, Vientiane...
...present plan also gives Citroën an option to buy 15% of Fiat. Inasmuch as Citrëen is already carrying debts of more than $100 million (including some $56 million to the De Gaulle government), and needs more capital to develop new models, there is virtually no chance that the French company will ever be able to take advantage of the option. The proviso is, therefore, little more than a face-saving device for De Gaulle...
...Limit to Stubbornness. Why did he finally-and reluctantly-agree to such a solution? The obvious reason was that he had no other choice. Chauvinistic as he is, he is also realistic. He has long known that Citroën's decline could only be halted by some sort of a merger. For a while, he urged a merger between Citroën and other French automakers -Peugeot and/or government-owned Renault. But that plan did not even begin to work out, and last month Citroën's Bercot laid his feelings on the line. "There...
...sales: $1.9 billion) into the first Europewide, European-owned automaker. He is convinced that such a firm will be necessary in the 1970s if the European auto industry is to weather American competition. He therefore let it be known that if he could not strike a bar gain with Citroën he would look elsewhere-perhaps toward West Germany's Volkswagen. Such a combine might so overwhelm France's entire auto industry that it would crumble within a few years. Not even Charles de Gaulle is stubborn enough to want that...