UPDATE 1-PSA sees one bln euros in savings by 2006


(Adds detail, shares) PARIS, Jan 28 (Reuters) - French auto maker PSA Peugeot Citroen said on Tuesday it expects to make annual savings of one billion euros by 2006 thanks to its cost-cutting plan. In slides to be presented to a meeting of analysts and reporters by CEO Jean-Martin Folz, PSA said its strategy of sharing parts across model lines had already helped reduce costs per vehicle by 300 euros ($325). Europe's second largest carmaker said it expected further to reduce the cost ...

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