Opel
Automotive Company and Manufacturing Company
GBP90m in bonuses for GM German workers...German workers had agreed to forfeit a pay rise and a Christmas bonus. After the deal collapsed, the Opel unions insisted that the company should hand over the Christmas bonus, as well as backdating the pay increase that was promised but... In this article: General Motors, Opel, Vauxhall, China, Volkswagen, Germany, Joint venture, Balance sheet, Recession, and Bankruptcy |
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AP Online | 2 days ago
GM: Opel to launch new models in break-even plan
...that the up to 60 percent of the job cuts could come from Germany, and that the future of an Opel plant in Antwerp, Belgium is "uncertain." "If Opel-Vauxhall is to flourish, every stakeholder will need to contribute to our viability plan,"...
In this article: GM, Vauxhall, Sberbank, Magna International Inc., Germany, Antwerp, Belgium, Frankfurt, and Europe
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Reuters | 2 days ago
UPDATE 1-German engineer behind Chevy Volt arrives at Opel
* Weber to head up product planning at German carmaker * Weber returns after starting at Opel in 1991 * Opel boss Reilly promises investments in new product (Adds details, background) The German engineer behind the Chevrolet Volt...
In this article: Chevrolet Volt, GM, Electric car, and Europe
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German state calls Opel job cuts unacceptable
German state calls Opel job cuts "unacceptable" The premier of the German state of Hesse that is home to carmaker Opel's headquarters in Ruesselsheim warned General Motors <GM.UL> that any plans to cut 2,500 jobs there were "completely...
In this article: General Motors, Magna, and Antwerp
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washingtonpost.com | 4 days ago
GM grapples with Saab, Opel futures
...added that he had had a "reasonably good" response on willingness from countries including Germany to provide state aid for Opel. Opel had had pledges of state support from countries and regions with production sites when it was due to be...
In this article: Saab, GM, Magna International, Saab, Koenigsegg, Bankruptcy, and GM Europe
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WRAPUP 2-GM grapples with Saab, Opel futures
...at Opel and British sister brand Vauxhall as part of the 3.3 billion euro ($4.92 billion) plan. Opel denied media reports on Wednesday that it planned to cut 5,300 jobs at German sites, saying the figure was far too high. German news...
In this article: Saab, General Motors, Magna International, Koenigsegg, and Bankruptcy
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Opel denies report GM plans 5,300 German job cuts
...of which were in Germany and Belgium. In Germany, 5,300 jobs would go, most of which at Opel's Ruesselsheim headquarters and in Bochum, dpa said. Opel said GM Europe head Nick Reilly would discuss plans for Opel with worker...
In this article: General Motors, Germany, GM Europe, Bochum, and Europe
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TIMELINE-GM's plans for its Opel unit
General Motors [GM.UL] has slightly lowered its target for job cuts at struggling European unit Opel and will present its new recovery plan to Opel's labour leaders on Wednesday. [ID:nGEE5AN0ND] Founded in 1863 and bought by GM in 1929,...
In this article: General Motors, Magna International Inc, Germany, GM Europe, Carl-Peter Forster, and Europe
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GM to present Opel plan to unions on Wed
DUESSELDORF, Germany -- General Motors Co. will present to unions on Wednesday its restructuring plan for the Opel unit, expected to include up to 9,500 job cuts, the carmaker's top official in Europe said Tuesday. Nick Reilly said the...
In this article: GM, Europe, Bochum, European country, Juergen Ruettgers, Angela Merkel, Germany, and Sberbank
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GM to present plan to fix Opel this week
...to sell Opel to a consortium led by Canadian car parts manufacturer Magna <MGa. TO>, but needs government aid to keep Opel in business. Opel interim Chief Executive Nick Reilly traveled to Brussels on Monday to meet officials including...
In this article: General Motors, Brussels, Bankruptcy, Magna, European Union, and Neelie Kroes
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More on Opel
Description from Wikipedia:
Adam Opel GmbH, commonly known as Opel, is a German automaker. The company was founded on 21 January 1863, began making automobiles in 1899, and was acquired by General Motors in 1929. As part of GM Europe, Opel is GM's largest European brand and, along with Vauxhall Motors in the UK, it forms GM's core European business.
In early 2009, the future of Opel was thrown into uncertainty as the global financial crisis drove GM towards bankruptcy. New GM Europe (Opel plus Vauxhall, minus Saab), is presently controlled by a trustee, with a controlling board made up of representatives from GM, employees and the German Government; the company was subject to a bidding process.
On 10th September 2009, it was announced that Magna, a Canadian automobile parts manufacturer, and Sberbank, a Russian bank, will buy a majority stake (55%) in its European Opel/Vauxhall operations. GM will own 35% of Opel; while Opel employees will own 10%. The agreement will keep Opel/Vauxhall a fully integrated part of GM’s global product development organization, allowing all parties to benefit from the exchange of technology and engineering resources.
- Name:
- Adam Opel GmbH
- Type:
- GmbH
- Location:
- Rüsselsheim, Germany
- Region:
- Europe
- Founder:
- Adam Opel
- Founded:
- January 21, 1863
- Owned by:
-
- General Motors (35%)
- Magna International (27.5%)
- Sberbank (27.5%)
- Opel Employees 10%
- Industry:
- Automotive
- Key People:
- Hans Demant, CEO
- Products:
- Automobile
- Revenue:
- €18.2 billion <small>(2009)
- No. of Employees:
- 25,103 (2009)
- Subsidiaries:
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