Embattled PSA Cuts Costs, Grows Overseas

PARIS – PSA Peugeot Citroen, anxious to remain an independent, family-controlled company, is selling buildings and part of its Gefco logistics company to raise cash and solidify its balance sheet.

Although its subsidiaries earned enough to keep the French auto maker in the black for the year, losses in the automotive business and continued investments in China meant debt ballooned from 9% of ...