UPDATE 3-PSA says to save 1 bln euros a year by 2006

Newswire

(Adds confirmation of forecasts paragraph 8, details 15-16) By Rebecca Harrison AULNAY, France, Jan 28 (Reuters) - French automaker PSA Peugeot Citroen said on Tuesday that plans to make cars faster and more cheaply would yield one billion euros ($1.08 billion) in savings per year by 2006 and help it meet lofty sales targets. Chairman Jean-Martin Folz said at a presentation of PSA's industrial strategy that sharing parts across different model lines by using common platforms would save ...

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