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UK minister says assured by Peugeot CEO of commitments to UK plants

Reuters - UK Focus

LONDON, Feb 24 (Reuters) - Britain's business minister Greg Clark said he discussed with the chief executive of Peugeot (Other OTC: PUGOF - news) the firm's approach to expand production, rather than close plants, as the French carmaker explores taking over GM (NYSE: GM - news) 's Vauxhall and Opel brands in Europe.

Clark met PSA's Carlos Tavares in London on Friday as concerns mounted about the future of jobs and production at Britain's two Vauxhall plants.

"We discussed how PSA's approach is to increase market share and expand production rather than close plants. I was assured that the commitments to the plants would be honoured," Clark said in a statement.

"There was also recognition that members of the Vauxhall pension fund will be no worse off."

(Reporting by Costas Pitas; editing by Stephen Addison)