UPDATE 2-Peugeot Citroen says to save 1 bln euros by 2006

Newswire

(Rewrites with details from presentation, background) By Rebecca Harrison PARIS, Jan 28 (Reuters) - French automaker PSA Peugeot Citroen said on Tuesday sweeping plans to produce cars using shared parts would save it one billion euros ($1.08 billion) per year by 2006 and help it meet lofty sales targets. Chairman Jean-Martin Folz said in a presentation of PSA's industrial strategy that sharing parts across different model lines by using common platforms had already saved Europe's ...

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