Press Release
Page 1 - Background
Page 2 - Nostalgia
Page 3 - Acceleration
Page 4 - 3 questions
Page 5 - Speedster II
Page 6 - Cévennes
Acceleration and Takeover
A group of three companies in Kuwait and the United Arab Emirates, who have half a century of experience in the automobile industry, have become the 51% majority shareholder in PGO Automobiles and since June 2005, have provided a new financial cornerstone for the French company. Since their arrival at PGO, the new shareholders have expressed a two-fold desire:
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long-term investment in the manufacturer in order to help the business develop internationally;
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provide PGO with the financial, technical and human resources to fulfil this ambition.
After a transition period of 12 months, a new, recently appointed board of management, has drawn up a continuation and development plan, which provides PGO with an international strategy designed to widen its market and intensify its distribution network. Today, there are PGO distributors in France, the Benelux, Germany, and the Middle East. Negotiations are under way to extend the network to all European countries, to the Mediterranean and the Middle East, not forgetting on-going discussions in Asia and, notably, South Korea.
Through the programmed expansion of its sales network, PGO wants to reach out and meet its customers throughout the world. Because its vehicles are for an international clientele avid for distinctive and quite out of the ordinary products.
And all these are good reasons for making the takeover the prelude for a new start… with plenty of wheel-spin.
