Opel predicts market expansion with 11 billion for five years

Viliyana Filipova — Thu, 04 Feb 2010 22:04:57 +0000

The German unit of U.S. car giant General Motors – Opel, will chase the expansion through an investment of 11 billion euros in the development of new cars over the next five years. The plan is part of a strategy to transform the company into a profitable within two years. This report by the leadership of GM, Air Force forward. From GM also reported that the planned reduction of 8 300 people in Europe and the closures in Antvertp. One of the main objectives of GM is to obtain approval of plans by European governments to be able to get vital loans to the company to become profitable again. At this stage the intentions of GM have been identified as “financially reasonable and realistic to achieve” an independent auditor, said the head of the company’s Europe, Nick Reilly.
The company is planning to create much more after that, if the financial operation is successful.

GM can not understand with the unions about the cuts at Opel

Viliyana Filipova — Fri, 25 Dec 2009 17:04:43 +0000

The Union organization in the automobile manufacturer Opel rejected the restructuring plan submitted by parent company General Motors (GM). This confirmed the president works council Klaus Franz to Germany daily Frankfurter Rundschau. “The loss of nearly 9 thousand jobs in Europe is unacceptable,” says Francis told the newspaper. Negotiations on the future of Opel and its British Vauxhall marks are expected to be renewed in the second week of January. Since GM had said he wanted to cut about 8300 employees of 50-thousand in Europe, but the distribution of cuts in different plants remains unclear. Such job losses are “economic fatuity” according to Franz, who believes that by 2013 around 10 500 positions either way will be closed in the Opel and Vauxhall for the exit of workers into retirement. Klaus Franz also calls for greater independence, the Opel within the group of GM and a free connection with the company’s global market. Opel became the protagonist of the saga continued this year. Several companies want to become owner of the manufacturer after General Motors announced that it sells.
When the buyer has already been selected (Canadian Magna in partnership with the Russian Sberbank), the U.S. group suddenly changed plans.

Financial Communique » Opel

Opel predicts market expansion with 11 billion for five years

GM can not understand with the unions about the cuts at Opel