Opel
Automotive Company and Manufacturing Company
Germany to bear brunt of Opel job cutsGermany to bear brunt of Opel job cuts Published: November 25 2009 16:11 | Last updated: November 25 2009 19:09 General Motors said on Wednesday Germany would suffer 50 to 60 per cent of the job cuts it was planning at its European... In this article: General Motors, Opel, Magna International, Germany, Europe, Antwerp, Belgium, European Union, and Renault |
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SPIEGEL ONLINE - International | 1 day ago
GM's Quest for State Aid: Is Germany Reeling in the Opel Life Ring?
...to go over GM's restructuring plan. Earlier this year, Germany did loan Opel -- which employs 45,000 people in Europe, including 25,000 in Germany -- 1.2 billion to save it from bankruptcy. According to a Dow Jones report on Tuesday,...
In this article: General Motors, Germany, European Union, Europe, Bochum, Social Democrats, Bankruptcy, and Sberbank
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washingtonpost.com | 7 hours ago
Germany takes brunt of Opel job cuts, Saab in limbo
RUESSELSHEIM/STOCKHOLM (Reuters) - General Motors <GM.UL> targeted Germany on Wednesday for the bulk of 9,000 planned job cuts at European arm Opel, turning the tables on the country that lobbied hardest for an Opel sale to Canada's Magna.
In this article: Saab, GM, Saab, Koenigsegg, Germany, Magna International, and Britain
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scotsman.com - Business | November 09, 2009
GM chief executive in Germany to discuss the future of Opel after sale plan scrapped
GM chief executive in Germany to discuss the future of Opel after sale plan scrapped Your account has been frozen. For your available options click the below button. To read this article in full you must have registered and have a Premium...
In this article: General Motors, Carl-Peter Forster, Magna, Tata, Europe, and Germany
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GM to present Opel plan to unions on Wed
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...
In this article: GM, Europe, Bochum, European country, Juergen Ruettgers, Angela Merkel, Germany, and Sberbank
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BBC News | November 11, 2009
Germany tells GM to go it alone
...agreed to sell Opel to Magna in September Germany has told General Motors it will have to come up with the money to refinance Opel, after the US carmaker cancelled the sale of its European arm. Economy Minister Rainer Bruederle told GM...
In this article: General Motors, Magna, Germany, US, Sberbank, and UK
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Opel labor to see revamp plan on Wednesday
Opel labor to see revamp plan on Wednesday DUESSELDORF, Germany (Reuters) - General Motors <GM.UL> will present labor leaders at European arm Opel a reorganization plan on Wednesday that envisions cutting nearly a fifth of the workforce, GM's...
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Sydney Morning Herald - Business | 14 hours ago
GM to keep all Opel plants in Germany open
Germany came under fire from other European governments for offering 4.5 billion euros in state aid to support GM's original plans to sell Opel, which includes Vauxhall in Britain, to Canada's Magna and Russian lender Sberbank. Other...
In this article: General Motors, Germany, Europe, Sberbank, Magna, Britain, Bochum, and Kaiserslautern
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AP Online | 14 hours ago
GM says main plant in Germany crucial to its plans
...Canadian auto parts maker Magna International Inc. and Russian lender Sberbank. Opel employs around 45,000 people in Europe, about 25,000 of them in Germany. On Monday, GM asked European governments to help pay most of the EUR3.3 billion...
In this article: GM, Germany, Europe, GM Europe, Sberbank, Magna International Inc., and Bochum
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Sydney Morning Herald - Business | November 04, 2009
Germany blasts GM decision to hang on to Opel
Germany blasts GM decision to hang on to Opel The German government blasted on Wednesday General Motors' decision to hang on to its European unit Opel as workers voiced alarm about a potentially deep restructuring of their loss-making...
In this article: General Motors, Magna, Germany, Sberbank, United States, Angela Merkel, and GM Europe
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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:
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- 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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