France's Aulnay plant closes shop

By Marc Castro

Oct 25, 2013 01:12 AM EDT

The 8,568,391st Citroen C3 subcompact would be rolling off the PSA Peugeuot Citroen factory at Aulnay, Francis. It would be the last one produced in the factory after which the factory would be shut down with 3,300 employees losing their jobs.

Since plans for the closure of the 40 year old plant was announced last year, the output had slowed down dramatically because of strikes and other work stoppages. According to union leader Tanja Sussest, the production car is a watershed moment that she and other workers would want to witness.

Sussest said, "This will turn a page in Aulnay's history. This would allow people to mourn and realize this has come to an end."

There would be more mourning in the market as European automakers lowee their manufacturing capacities as a means to increase profit margins. According to a study conducted by CM-CIC Securities, car manufacturing plants need to operate at 80% of capacity in order to turn a profit.

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