Opel
Automotive Company and Manufacturing Company
Neil Winton: General Motors angers Europe's powerful, but Opel decision gains plaudits...Winton: General Motors angers Europe's powerful, but Opel decision gains plaudits General Motors angers Europe's powerful, but Opel decision gains plaudits General Motors Co.'s last-minute decision to hang on to its European Opel marque... In this article: General Motors, Opel, Magna, Europe, Astra, Volkswagen Golf, and Carl-Peter Forster |
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Detroit News | November 09, 2009
GM CEO meets with Opel executives
...the U.S. automaker "arrogant." Sberbank, a Russian-controlled bank with strong ties to the Kremlin had agreed to acquire 27.5 percent of Opel and transfer the stake to a Russian automaker, most likely GAZ. GAZ, Russia's No. 2 automaker,...
In this article: GM, Magna International Inc., GAZ, Carl-Peter Forster, and U.S.
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National Post | November 06, 2009
Back to business 'as usual' for Magna after Opel failure
...usual," Mr. Walker said. GM stunned political leaders, workers and investors around the world Tuesday when its board of directors scrapped a plan to sell Opel to Magna and Sberbank and said it would keep the unit. The decision sparked...
In this article: Magna International Inc., GM, Sberbank, North America, Recession, Financial Post, and Volvo
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New Kerala | November 04, 2009
GM U-turn shocks Berlin and Moscow, angers workers
Putin had previously been keen about the prospect of Sberbank buying into Opel, seeing it as a unique chance for gaining access to Western technology and in turn helping to revive Russia's stricken automobile industry. GM accepted...
In this article: General Motors, Magna, Sberbank, Berlin, Detroit, Vladimir Putin, Angela Merkel, and Surplus labour
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Daily Mail | November 05, 2009
Putin slams ‘scornful’ General Motors as German workers stage protests over Opel U-turn
...when dealing with their European partners. The company opted to keep its European arm Opel after months of negotiations to sell it to a Canadian-Russian consortium of Magna and Sberbank. Putin said Russia would learn lessons from the...
In this article: General Motors, Vladimir Putin, Magna, Sberbank, Russia, and Germany
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San Diego Union-Tribune | November 05, 2009
GM's Opel move raises anger, new uncertainty
...as saying. Germany had promised euro4.5 billion in further financing to support plans for Magna and Sberbank to take a 55 percent stake in Opel - a pledge that drew concerns from the European Union's competition commissioner. With those...
In this article: GM, Magna International Inc., Angela Merkel, Germany, GM Europe, Sberbank, and THQ
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Guardian Unlimited | November 05, 2009
Putin attacks GM for U-turn on Opel
Putin attacks GM for U-turn on Opel • Opel workers walk out in protest but relief at Vauxhall • Carmaker scraps agreement with Magna and Sberbank The Opel plant in Eisenach, eastern Germany, yesterday as protesting employees out.
In this article: General Motors, Vladimir Putin, Magna, Sberbank, Angela Merkel, Tax, Russia, and Bankruptcy
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boston.com - Top business news | November 04, 2009
Opel workers across Germany protest GM move
...exhibited an "arrogant attitude" in abandoning months of negotiations. Workers at Opel's headquarters in Ruesselsheim vented their frustration and anger at a rally. "Our trust (in GM) is now zero, and that is the heart of the problem,"...
In this article: GM, Angela Merkel, Magna International Inc., Sberbank, Vladimir Putin, Germany, and Barack Obama
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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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