# PSA Group agrees to source EUR50M from GM&S over five years

PSA Group reached an agreement with the French government to extend its purchasing commitment from struggling auto parts supplier GM&S Industry to five years averaging EUR10 million annually, up from three years at EUR12 million per year.

- Type: Contract
- Announced: 2017-07-25
- Where: France
- Value: $58.5M (50.0M EUR)
- Status: announced
- Products: auto parts
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [PSA Group](https://endata.com/companies/19914.md) (customer)
- [GM&S Industry](https://endata.com/companies/24468.md) (supplier)

## Sources

- [autotechinsight.spglobal.com](https://autotechinsight.spglobal.com/news/5241171/psa-french-government-reach-agreement-over-gm-s-bailout-dispute-report), 2017-07-25: "PSA Group has reached an agreement with the French government over its contribution to bail out struggling auto parts supplier GM&S Industry France."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.