Late news.(Late News)

More Dacia losses

Losses at Renault's Romanian unit Dacia deepened to [euro]86 million in 2002, largely because of investments in new models and an upgrade of the Pitesti plant, said a Renault spokesman.

"We're still at a time of heavy investment," said the spokesman. "We won't break even before 2005, one year later than planned."

Renault invested [euro]226 million in Dacia last year.

This is Dacia's third consecutive year of losses since it was taken over by Renault in 1999. Dacia lost [euro]68 million in 2000 and [euro]77 million in 2001.

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