Renault, PSA to Dissolve Powertrain Venture

Next week Renault SA and PSA Peugeot Citroen will announce they are unwinding their 44-year-old partnership on engine and transmission production, Reuters reports.

The news service says PSA will buy the 50% stake in its engine plant in Douvrin, France, currently owned by Renault. In return, Renault will buy the 20% stake in its Ruitz transmission plant currently held by PSA.

The companies say the equity exchange won't affect a combined 3,600 jobs at the two sites.