Tuesday, May 19, 2009

Report: GM's Opel Could Build Cars for Other Makers if Acquired by Magna

Report: GM's Opel Could Build Cars for Other Makers if Acquired by Magna

And the plot thickens... Citing sources close to Magna International, German newspaper 'Welt am Sonntag' is reporting that if the Austrian-Canadian auto-parts maker wins the battle against Fiat S.p.A. and acquires a controlling stake in General Motors' Opel - Vauxhall division, then there's a strong possibility that it could "loan" Opel's production capacity to other makers such as Ford or Peugeot if the automaker is forced to reduce output.

Fyrthermore, the German newspaper claims that while Magna has no intention of closing any plants in Germany, it may shut down GM's European plants in Antwerp, Belgium and Luton, England.

Via: Yahoo News

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