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GM head: Opel in for two troubled years
Published: 13 Jan 13 13:45 CET | Print version
Online: http://www.thelocal.de/money/20130113-47301.html
The head of General Motors in Europe said on Sunday that losses at its struggling German arm Opel would continue for at least two more years and possibly longer depending on market trends.
- Opel cuts car production at Bochum plant - Business & Money (10 Dec 12)
- Bochum Opel plant set to close after 2016 - Business & Money (8 Dec 12)
- GM 'scraps Opel - Peugeot Citroen merger' - Business & Money (15 Nov 12)
GM's European operations have run up billions of dollars in losses over the past 10 years. It had planned to sell Opel at one stage but pulled back when it could not find a suitable buyer.
Battered by a declining European car market, Opel announced in December that it would halt auto production at its Bochum plant in 2016 but pledged to keep the site running as a parts distribution centre.
Opel employs 37,400 people in Europe, including 20,300 at four sites in Germany, in Rüsselsheim, Bochum, Eisenach and Kaiserslautern.
Opel boss Thomas Sedran told the magazine: "We do not plan further site closures."
Last week he insisted that "Opel was not for sale" amid rumours of a tie-up between the German firm and struggling French group PSA Peugeot Citroen.
AFP/jlb
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