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Gag Halfrunt
From the Guardian:
Link to full article.
Troubled German carmaker Opel is in effect to become independent from its parent company General Motors after 80 years, under restructuring plans announced by its supervisory board.
The move will also see Vauxhall, which represents General Motors in the UK, rolled into the newly restructured company and spun off from its US parent.
General Motors employs about 5,000 people in the UK, including 2,000 at its Vauxhall plant at Ellesmere Port in Cheshire and about 1,400 at its Vivaro van plant at Luton.
Hans Dechant, the head of Adam Opel GmbH said that the carmaker would "largely detach" itself from GM and reorganise as a joint-stock company to lure investors and state backing to save it from insolvency.
The move will also see Vauxhall, which represents General Motors in the UK, rolled into the newly restructured company and spun off from its US parent.
General Motors employs about 5,000 people in the UK, including 2,000 at its Vauxhall plant at Ellesmere Port in Cheshire and about 1,400 at its Vivaro van plant at Luton.
Hans Dechant, the head of Adam Opel GmbH said that the carmaker would "largely detach" itself from GM and reorganise as a joint-stock company to lure investors and state backing to save it from insolvency.
Link to full article.