July 11, 2012 / 9:57 AM / in 6 years

CORRECTED-Fiat, Peugeot put Sevelnord exit terms to works council

(Corrects year in third paragraph to 2012 from 2016)

PARIS, July 11 (Reuters) - Automakers Fiat and PSA Peugeot Citroen said on Wednesday they had presented the terms of a Fiat exit from their shared commercial van plant in northern France to employee representatives.

Although Peugeot is due to take full control of the Sevelnord plant by end-December, the proposed terms say the plant will continue to produce light commercial vehicles for both companies until new emissions standards arrive at the end of 2016.

“The parties expect to enter into definitive agreements in all these respects before (the) end of 2012,” they said.

Workers at Sevelnord, which assembles the Peugeot Expert, Citroen Jumpy and Fiat Scudo commercial vans, were asked in May to agree to a pay freeze, hundreds of job cuts and other concessions or face possible closure.

Peugeot unions are expecting thousands more job losses due to the company’s deteriorating situation since last year, when its core autos division swung to a loss as a result of exposure to European markets hit by the financial crisis. (Reporting by Lionel Laurent; Editing by David Holmes)

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