/ General Motors, Industry, News / GM Near to Sell Strasbourg Plant

GM Near to Sell Strasbourg Plant

Linked In Share
GM Near to Sell Strasbourg Plant

GM will sell its plant in France in order to cut costs in the crisis affected European market.

A GM spokesman said that Germany’s ZF Friedrichshafen AG and Belgium’s Punch Metals International are the companies involved in advanced talks with the automaker to buy the French plant. Punch Metals’ offer includes buying the plant and singing a deal with GM and ZF to manufacture 8-speed transmissions, keeping the 1,000 employees at the facility. Production is expected to begin in 2015 and extend through 2021.

“In a best-case scenario, the sale will be completed by the end of the year,” a GM spokesman told AFP.

Selling the plant will help GM cut costs in the troubled European market, where it lost $478 million during the third quarter. Back in May the automaker announced it is planning to sell its Strasbourg plant after it failed to sell it in 2009 and 2010, as GM moved through bankruptcy protection. The company also plans to cut 2,600 jobs and cut costs by $300 million in Europe. Last month GM said it had cut 2,300 jobs in Europe from the target of 2,600 for this year.

by Ana Cezara Savin (my Google+) - Monday, November 26th, 2012 - filed under General Motors, Industry, News. Image credit: .
Linked In Share
Related Articles
GM Punch Metals International strasbourg plant ZF Friedrichshafen


Discuss: GM Near to Sell Strasbourg Plant

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Dodge Challenger SRT Hellcat to start production this fall
Dodge Challenger SRT Hellcat to start production this fallDodge has recently announced the production start of the new Challenger SRT Hellcat this fall. One of the hottest muscle cars ...
Renault Koleos to get a second generation
Renault Koleos to get a second generationRenault is planning to introduce a second generation of the Koleos as the model in question is said to be officially introduced ...
[VIDEO] Volvo detailing new XC90’s equipment
[VIDEO] Volvo detailing new XC90’s equipmentThe Swedish based automaker Volvo has released several videos in which the equipment found on the new generation of the XC90 is ...
Here’s your original Mini in Lego style
Here’s your original Mini in Lego styleThe original Mini – penned by Sir Alec Issigonis and released by the British Motor Corporation in 1959 – is now available as ...
Smart actually plans ForTwo Cabrio, Brabus and Electric
Smart actually plans ForTwo Cabrio, Brabus and ElectricDaimler’s brand Smart is planning to introduce Cabrio, Electric and Brabus versions of the recently unveiled ForTwo city ...
GM’s European operations managed by the new Opel Group
GM’s European operations managed by the new Opel GroupGeneral Motors, which is pulling the Chevrolet brand out of Europe as part of its strategy to streamline the region’s business ...
Toyota Cross Auris gets spied for the second time
Toyota Cross Auris gets spied for the second timeOur spy photographers have managed to capture the new Toyota Cross Auris on camera for the second time as this was being tested ...
2015 Mazda2 MPS rendered
2015 Mazda2 MPS renderedThe first rendering with the 2015 Mazda2 MPS has recently hit the web and it might preview the top of the line version of the ...
TechArt introduces first Porsche Macan upgrades
TechArt introduces first Porsche Macan upgradesThe aftermarket specialists from TechArt have recently announced the introduction of the first upgrades for the Porsche ...
[VIDEO] 2015 Hyundai Sonata gets tested out by IIHS
[VIDEO] 2015 Hyundai Sonata gets tested out by IIHSThe 2015 Hyundai Sonata has been recently crash tested by the IIHS and it managed to achieve the highest designation, Top Safety ...
[VIDEO] Bentley Continental GT Speed gets tested out by Auto Express
[VIDEO] Bentley Continental GT Speed gets tested out by Auto ExpressThe guys from Auto Express have recently taken out the Bentley Continental GT Speed for a spin as the model has been taken almost ...
NHTSA has not suffered from the GM safety mayhem
NHTSA has not suffered from the GM safety mayhemSince February, General Motors has been involved in one of the two major safety scandals in the automotive industry, with the ...
Australia – Subaru XV Black Edition introduced
Australia – Subaru XV Black Edition introducedSubaru Australia is expanding the XV lineup by adding the Black Edition to the SUVs range where the model in question has been ...
US electric sales continue to expand
US electric sales continue to expandWhile battery electric cars, hybrids and plug-in hybrids have not yet triggered the expected green transportation revolution; ...
Ferrari California T online configurator introduced
Ferrari California T online configurator introducedFerrari has recently introduced the online configurator for the California T and now the grand tourer can be personalized by its ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Mini_legoP90155673_highRes
Spied Toyota Cross Auris 01
porsche macan tuning techart 1
one-off Jaguar F-Type R Coupe tour de france 2014 1
Nero-Ferrari-LaFerrari-1
bmw 3-series jaguar xe camouflaged promotes 1
srt viper convertible prefix medusa tuning 1
2015 mitsubishi pajero facelift 1
2015 kia sorento teaser 1
2015 buick envision 1
Nissan Juke 80th Special Color Edition 1
Mercedes ML Coupé 01-2

More automotive from inautonews
Dodge has recently announced the production start of the new Challenger SRT Hellcat this fall. One of the hottest muscle cars money can buy these days, the Dodge Challenger SRT Hellcat, will begin its limited production this fall. The announcement has been made by the company recently and the ...
read more
Inautonews Editors Section
Racing tracks – sleeping pill or energy drink?
Racing tracks – sleeping pill or energy drink?The racing weekend took us across the whole world last weekend, with dull or spectacular racing being influenced not only by the quality of the ...
Preview – 2014 German Grand Prix
Preview – 2014 German Grand PrixThe old mighty 7km-long Hockenheimring was built in 1932, and it was true madness, as close as you can get to AVUS. When Jim Clark died here, on the ...
F1: Silverstone 2014, British Grand Prix preview
F1: Silverstone 2014, British Grand Prix preview"The key to a quick lap around Silverstone is a car that remains stable during direction changes, and one that is aerodynamically stable, because ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety [VIDEO] 2015 Hyundai Sonata gets tested out by IIHSThe 2015 Hyundai Sonata has been recently crash tested by the IIHS and it managed to achieve the ... NHTSA has not suffered from the GM safety mayhemSince February, General Motors has been involved in one of the two major safety scandals in the ...
Safety Section