Mandelson visits Vauxhall plant as GM considers European business bids |
| Wednesday, 22 July 2009 | |||||
 Lord Mandelson, the business secretary, is visiting Vauxhall's Ellesmere Port plant today as speculation over the future of its 5,000 workers intensifies. According to a report in The Times Lord Mandelson will meet union officials, managers and local MPs to update them on the discussions the government is having with the bidders for GM Europe. Earlier this week three potential investors reportedly presented their bids to GM; RHJ international, the Belgian industrial group; Magna, the Canadian car parts supplier which is backed by Sberbank, the Russian state-owned bank; and Beijing Automotive (BAIC). The business was put up for sale when its US parent filed for bankruptcy protection in June. It has since emerged from the process with the US government as the majority shareholder. According to The Times RHJ has said it would cut 10,000 jobs if it won control of GM Europe, with 3,900 jobs being lost in Germany. The group did not specify where the remaining 6,100 cuts would fall. The bidders are also expected to hold talks with the German government in the next few days, with information shared with other governments, including UK ministers. A final decision on the sale is expected to be made by GM next week. Related Articles
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felix chesterfield
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... Will GM's bankruptcy affect a site like this for truck and auto parts ? |
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