UPDATE 1-Renault,Nissan to jointly buy steel products-paper

Newswire

(Adds Renault reaction in paragraph six) TOKYO, Nov 28 (Reuters) - French automaker Renault SA and Japanese partner Nissan Motor Co plan to cut costs by jointly buying steel products from next year, a Japanese newspaper said on Thursday. The automakers hope joint procurement will give them more bargaining power with steelmakers, which have been seeking price hikes, the Nihon Keizai Shimbun business daily reported. Joint procurement has been a major driver of profit growth for the ...

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