RABAT, April 27 (Reuters) - French car maker Renault on Wednesday announced it has raised its stake in Moroccan car assembler Somaca to 54 percent after buying a 20 percent stake from Italy's Fiat . A Renault spokesman in Morocco declined to provide financial details of the deal, which comes few weeks before the French firm starts producing its new budget car Logan at the Somaca plant in Casablanca.
Premium Content (PAID Subscription Required)
"Renault takes control of Moroccan car assembler" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.