A further meeting of Germany's economic steering committee slated for tomorrow (8 June) could finally determine if GM division Opel is successful in its EUR1.3bn (US$1.55bn) loan guarantee request.
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General Motors in Spain is remaining tight-lipped as to whether it has secured EUR160m (US$191m) in financial guarantees from the Aragon regional government.
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A senior German politician representing the interests of Opel workers in East Germany said the Berlin government was suppressing information that could bolster the case for granting 1.1 billion euros ($1.
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A senior German politician representing the interests of Opel workers in East Germany said the Berlin government was suppressing information that could bolster the case for granting 1.1 billion euros ($1.
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Germany's economic steering committee at the economics ministry is due to meet this week to discuss Opel's request for EUR1.3bn (US$1.6bn) in loan guarantees.
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Spain's central government and the Aragon regional government will provide General Motors Co.'s Opel unit with 300 million euros ($358.2 million) in aid, the Aragon government said today.
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Spain's central government and the Aragon regional government will provide General Motors Co.'s European unit Opel with 300 million euros ($358.2 million) in aid, the Aragon government said on Monday.
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GM is putting a brave face on it, but its much-cherished request for Opel loan guarantees across its major European manufacturing bases is starting to become a little shaky.
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The German government has delayed a vote that was expected to rule out federal aid for GM's European unit Opel, giving Opel's supporters a few more days to lobby Berlin to change its mind.
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Citroen has released the first images of its new C4 compact hatchback, a crucial car for the French brand in Europe's second largest segment, which is dominated by Volkswagen, Ford and Opel/Vauxhall.
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General Motors said it remained confident it would secure up to EUR1.5bn (US$1.8bn) in German loan guarantees for its Opel restructuring despite widespread reports the government was becoming more reluctant to grant the request.
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Opel/Vauxhall has detailed further information concerning its European framework agreement signed in Russelsheim yesterday (31 May).
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Barely is the ink dry on preliminary workers' agreements to give Opel/Vauxhall the cost savings it needs for restructuring, then there is disturbing news today that one of the company's UK plants may lose its van building contract after the current model gets to the end of its life in 2013.
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Unions representing workers at GM's Opel/Vauxhall division in Germany have signed the first of several agreements (31 May) paving the way for substantial cost savings.
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Germany will probably reject GM.'s aid request for Opel/Vauxhall because the U.S. carmaker can afford to fund the reorganization itself, a lawmaker in Chancellor Angela Merkel's ruling party said. GM has requested $1.
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Germany is likely to make a final decision on whether to grant state aid to General Motors Co.'s Opel/Vauxhall unit at the end of this week or the start of next week, German Economy Minister Rainer Bruederle said.
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Germany is likely to make a final decision on whether to grant state aid to General Motors Co.'s Opel/Vauxhall unit at the end of this week or the start of next week, German Economy Minister Rainer Bruederle said.
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A restructuring deal at Opel/Vauxhall unit was signed into effect on Monday, aimed at saving $325 million in annual wage costs.
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General Motors Co.'s European Opel-Vauxhall unit signed a restructuring deal today aimed at saving $325 million in annual wage costs.
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Business advisors to Germany's rescue fund were meeting Monday to discuss whether to recommend extending more than 1 billion euros ($1.23 billion) in loan guarantees to GM's Opel/Vauxhall unit.
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