Key Developments: Renault SA (RENA.PA)
60.96EUR
20 May 2013
€-1.17 (-1.88%)
€62.13
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€59.87
1,151,245
1,302,231
€63.67
€29.01
Latest Key Developments (Source: Significant Developments)
ESI Group SA Announces Signature of Framework Collaboration Agreement with Renault SA
ESI Group SA announced the signature of a framework collaboration agreement with Renault SA. The agreement aims at supporting Renault's new strategic plan "Renault 2016 - Drive the Change", founded on Renault's ambition to make sustainable mobility accessible to all. In 2011, following the signature of a framework agreement for licences with ESI, Renault adopted ESI's Virtual Performance Solution (VPS). Over the past years, Renault and ESI's co-creative approach has given birth to some of ESI's commercially available software solutions, including its passenger comfort software suite, now part of Virtual Seat Solution. The framework collaboration agreement between Renault and ESI aims to strengthen the existing relationship and bring an increasing number of opportunities for further co-creation around ESI solutions. Full Article
Renault SA Flins Plant To Build Next Nissan Motor Co Ltd's Micra-Reuters
Reuters reported that Renault SA announced plans to build alliance partner Nissan Motor Co Ltd's Micra mini in France as it bolsters domestic production in return for union concessions. Renault's Flins plant, near Paris, will begin assembling the Micra subcompact for Europe in 2016, with an annual production target of 82,000 vehicles, the carmaker said. Full Article
Renault SA Launches Renault Captur
Renault SA announced the launch of its new model, the Renault Captur. It will feature at L’Atelier Renault from April 13 to June 30, 2013. Full Article
Unionists of Renault SA's Romanian Carmaker Dacia and Management Agree on Pay Rise-Mediafax News Brief Service
Mediafax News Brief Service reported that unionists of Renault SA’s Romanian carmaker Dacia and the management of Dacia have agreed to a 6% increase of the wage fund starting May 2013. Employees will also be granted a gross bonus of RON 1,680 (EUR 383) for the results the carmaker registered in 2012, Dacia said in a press release. Over 5,000 employees at carmaker Dacia's plant ceased work for two days in March 2013 displeased that their wage demands had not been included in the new collective labor contract. According to protesters, Dacia workers demanded a 25% wage raise, while Dacia's management agreed only to a 5% increase. Full Article
Renault SA Prices 3-year CNY 750 Million Dim Sum Bond at 4.65%-Dow Jones
Dow Jones reported that Renault SA has priced CNY 750 million worth of three-year dim sum bonds at 4.65%. Renault received CNY 1.2 billion in orders for the bonds. HSBC and ICBC Asia were the joint bookrunners for the offering. Full Article
Renault SA's Dacia Workers Negotiate New Pay Deal Following Strike-IHS Global Insight Daily Analysis
IHS Global Insight Daily Analysis reported that unions at the main plant of Renault SA’s Dacia in Pitesti of Romania have entered into negotiations over a new pay deal following the strike at the plant a week ago. According to an Automotive News Europe report, the plant's unions are pushing Dacia's management for improved pay and conditions following the strike a week ago. A spokesperson for Dacia said the strike began in the morning of March 20, 2013 and ended on March 23, 2013 at midday and that the stoppage was spontaneous and was not a planned strike by the plant's union. Full Article
Renault SA's Romanian Car Maker Dacia Restarts Production after Strike-SeeNews - The Corporate Wire
SeeNews - The Corporate Wire reported that Romanian car maker Dacia, a unit of Renault SA, said its factory in Mioveni has resumed production after a strike-related stoppage. Normal production restarted at about 16:00 local time on March 21, 2013 after it was disrupted a day earlier by an unofficial strike, Dacia said in a statement. Collective bargaining between Dacia officials and representatives of the labor union will continue provided normal production remains uninterrupted, Dacia said. Dacia said it will not pay wages for March 20, 2013 and March 21, 2013 to the workers that participated in the industrial action while the leaders of the strike will be fined in accordance with the law. Full Article
Strike Prompts EUR 22.4 Million Loss for Renault SA’s Romanian Carmaker Dacia-SeeNews - The Corporate Wire
SeeNews - The Corporate Wire reported that Renault SA's Romanian unit Dacia has halted its production on March 20, 2013 because of a strike, whose impact has been estimated at EUR 22.4 million (USD 28.9 million) for the carmaker. The daily output at the factory in Mioveni is 1,400 units, financial daily Ziarul Financiar reported. Despite the walkout, Dacia continues deliveries as it still meets demand through vehicles kept in stock. Dacia last suspended production for two days in January 2013 in order to avoid overproduction. Full Article
Renault SA's Romanian Dacia Employees Continue Protests-Mediafax News Brief Service
Mediafax News Brief Service reported that part of the employees with Romanian carmaker Dacia, owned by Renault SA, continue protests for the second day in a row over wage demands. On March 20, 2013, over 5,000 employees at the plant of the carmaker in Mioveni, southern Romania, ceased work displeased that their wage demands had not been included in the new collective labor contract, which is to be signed on March 31, 2013. Dacia management dismissed the protest as illegal. According to protesters, Dacia workers demanded a 25% wage raise, while Dacia management agreed only to a 5% increase. Full Article
Pay Strike Stops Romanian Car Production at Renault SA's Dacia-Reuters News
Reuters News reported that Romanian carmaker Dacia, owned by Renault SA, has stopped production at its Mioveni assembly line with employees striking in a dispute over pay. Dacia's export accounts for a roughly 3% of the Romanian gross domestic product. More than 90% of Dacia's output is sold abroad. It sold about 360,000 cars worldwide in 2012, up 4.8% from 2011. Ms. Anca Oreviceanu, spokeswoman at Dacia, told Reuters that Dacia is negotiating on the collective work agreement and the impact on production is not known yet. Local media reports said Dacia's striking employees are seeking a 25% pay increase. The average gross pay at Dacia was RON 3,700 (USD 1,100) in 2012, which compared with a national average of RON 2,100. Trade unionists were not immediately available to comment. Full Article
Nissan contributed 433 mln euros to Renault Q1 profit
PARIS, May 13 - Renault on Monday said joint-venture partners Nissan Motor Co had contributed 433 million euros ($561.69 million) to the French car maker's first-quarter earnings.
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