TPCA car producer sees profit drop in 2013
The Czech Republic’s third major car maker, joint venture TPCA, says it made a profit of 170 million crowns in 2013, a fall of 13% compared with the previous year. TPCA is the cooperation between Japan’s Toyota and France’s PSA Peugeot Citröen. Workers and management at the plant are currently in a face off over demands for a 12% wage hike with employers offers just 2.2%. A new collective deal should be agreed by the end of February.