The British Government gives a guarantee of 270 million pounds for Vauxhall / Opel
March 12, 2010 by Automotive
Filed under Automotive news
The British Government has confirmed that it will give a guarantee for the amount of 270 million pounds (about 300 million euros) to the brand Vauxhall / Opel to ensure continuity of the company in the UK. The Secretary business area government announced that Lord Mandelson have agreed to endorse the brand with the intention that the money will provide greater security for workers in British plants Luton and Ellesmere Port.
“ I always said that the government would always support Vauxhall , and today’s announcement has shown our word. The British are factories that use a labor class. “
Vauxhall brand
“ need to thrive as part of the British-made cars , and if they come to fruition our negotiations with General Motors Europe I am sure they will. “
Lord Mandelson / Secretary of the British Government business – free translation
The first option looked at General Motors was selling the Opel / Vauxhall to the Canadian Constitution, which is principally engaged in the distribution of components for the automotive sector. Instead, the decision was overturned in late last year, when the company announced it would make an extra investment of more than 1900 million for the Opel brand.
To achieve its goals of restructuring and renewal of the company’s models, Vauxhall / Opel needs help up to 2000 million euros by European governments , of which most of the money I should put Germany, taking over 60% of total government support. More about the Opel .
clicking here
Track | autocar.co.uk
