Arab Today, arab today gm to invest €4bn in opelvauxhall by 2016
Last Updated : GMT 19:44:17
Arab Today, arab today
Arab Today, arab today

GM to invest €4bn in Opel,Vauxhall by 2016

Arab Today, arab today

Arab Today, arab today GM to invest €4bn in Opel,Vauxhall by 2016

Ruesselsheim - AFP

General Motors will invest four billion euros ($5 billion) in its German subsidiary Opel and British sister brand Vauxhall in 2013-2016, the US auto giant\'s chief announced Wednesday. \"As a global automotive company, GM needs a strong presence in Europe, in terms of design and development as well as manufacturing and sales,\" GM chairman and chief executive Dan Akerson said at Opel headquarters in western Germany. He said the investment aimed to allow Opel and Vauxhall to grow in the medium term and would permit Opel to launch 23 new models and 13 new power train transmission units by 2016. Opel is \"on the right track\" and has GM\'s \"full support\" in its restructuring plan as well as its aim to balance its books by mid-decade, Akerson told gathered Opel chiefs, local politicians and workers. The German carmaker has been making losses for years as it has been slow to react to the crisis in demand for cars in Europe, and GM has ordered Opel\'s management to prescribe draconian cost-cutting. The restructuring plan was approved by three of Opel\'s sites in Germany recently, except at its Bochum factory. Last month Opel said it would press ahead with plans to phase out auto production at Bochum at the end of 2014, earlier than planned. A proposed agreement for keeping Bochum open until the end of 2016 -- in exchange for a wage freeze, the giving up of some fringe benefits and other cost-saving measures -- was rejected by unions and employees. However the plan was accepted at Opel\'s other three sites in Germany. \"Those cars can be sold outside Europe if it makes sense,\" Akerson said adding it was \"a time of challenge but also of excitement and optimism\". Workers have in the past reproached the US giant for its strategy of confining sales to Europe.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gm to invest €4bn in opelvauxhall by 2016 Arab Today, arab today gm to invest €4bn in opelvauxhall by 2016

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gm to invest €4bn in opelvauxhall by 2016 Arab Today, arab today gm to invest €4bn in opelvauxhall by 2016

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday