| General Motors' Administrative Council decided in a meeting in Detroit yesterday, not to sell it's European brand, Opel, to the Austro-Canadian consortium, Magna International after all.
The decision once again puts the future of the Opel plant in Figueruelas (Zaragoza) in doubt and has prompted an emergency meeting this afternoon between trade union leaders, the Ministry of Industry and respresentatives of the Regional Government of Aragón.
The meeting will be used to evaluate the new turn in the Figueruerlas plant's fortunes, after recent and lengthy negotiations had led to a pre-agreement with Magna, allowing 900 job losses, but ensuring the future of the factory. Magna had agreed to maintain the 478,000 vehicle production line and the press office, and had guaranteed the manufacturing of two new Opel model, the Meriva from 2010 and from 2013 the new Corsa.
In a statement released yesterday, GM council delegate Fritz Henderson, explained that the group had decided to explore the possibility of a restructuring of the Opel brand and would shortly be presenting a concrete plan to the German government.
The German government is dismayed at the decision, which will affect a number of plants in the country, and has demanded the immediate repayment of the 1.5 billion euros loaned to General Motors.
Opel Germany has reacted to the decision from Detroit by calling for strikes tomorrow across the country, which they expect to be copied across Europe as a sign of protest at the non-sale of the company to the Magna consortium. |