Tue, Jan. 26, 1:49 PM
- Oilfield services company Saipem (OTCPK:SAPMY) and energy group Ansaldo Energia (OTC:ASDOF) are among Italian companies that signed deals valued at ~€17B ($18.36B) during Iranian Pres. Rouhani’s visit to Europe, his first overseas trip since the European Union lifted sanctions on Iran.
- Eni (E +3.3%) - a majority owner of Saipem - also is among European companies expected to move quickly to resume business with Iran, which is eager to drum up foreign investment in sectors including energy after years of sanctions.
- Saipem entered an MoU with the Parsian Oil and Gas Development Co. to upgrade two refineries and a second one with the National Iranian Gas Co. on pipeline projects covering 1,800 km (1,100 miles); no financial terms were released.
- Italian steel firm Danieli (OTC:DNIFY) said during the visit it would sign deals valued at ~€5.7B, and French car maker Peugeot (OTCPK:PEUGF) is expected to complete an agreement to manufacture cars in Iran as part of a 50-50 JV with an Iranian automaker valued at more than €300M.
Oct. 5, 2015, 12:24 PM
- Tata Motors ADRs (TTM +5.2%) trade higher after reports from India indicate the company is in talks with PSA Peugeot Citroen (OTCPK:PEUGF, OTCPK:PUGOY, OTCPK:PUGOY) on a partnership.
- The company also reported a 61% jump in Jaguar Land Rover sales in the U.S. during September to help alleviate some fears on deliveries to China.
- Shares of Tata closed up 5.8% in Bombay trading.
Sep. 28, 2015, 9:56 AM
- European automobile stocks and some associated suppliers are under pressure as the news over the weekend on the Volkswagen scandal wasn't encouraging - including word German prosecutors are probing the actions of high-level VW execs.
- There are fears in the sector over heightened regulatory oversight on emissions standards.
- Previously: Audi says 2.1M vehicles impacted by emissions scandal (Sep. 28 2015)
- Previously: Volkswagen -35% in two-day drubbing after cheating scandal (Sep. 22 2015)
- Decliners: Volkswagen (OTCQX:VLKAY) -7.0%, Tata Motors (NYSE:TTM) -5.1%, Daimler (OTCPK:DDAIF) -3.0%, BMW (OTCPK:BAMXY) -2.8%, Peugeot (OTCPK:PEUGF) -4.8%, Renault (OTCPK:RNLSY, OTC:RNSDF) -4.7%, Fiat Chrysler Automobiles (NYSE:FCAU) -3.5%, Navistar (NYSE:NAV) -2.2%, Autoliv (NYSE:ALV) -1.7%, Toyota (NYSE:TM) -1.5%,
Feb. 22, 2012, 3:43 AM
Peugeot is a holding company. Through its subsidiaries, Co. is engaged in the production of Peugeot and Citroen automobiles, as well as other vehicles. In addition to automobile manufacturing, Co.'s operating subsidiaries include Faurecia, which manufactures automotive equipment. Gefco, which... More
Sector: Consumer Goods
Industry: Trucks & Other Vehicles