Home News British government prepared to invest big in Vauxhall

British government prepared to invest big in Vauxhall


LONDON (Dow Jones) – The British government is willing declares a "major investment" in the Support sister brand Opel Vauxhall. It was ready for such a Are step, and the means to invest there, said Minister Peter Mandelson on Tuesday.
The UK government has many times emphasizes financial aid will depend on the Vauxhall’s parent GM production in the country long-term secure. A final plan to achieve this goal, the U.S. car company still . submit Mandelson, however, signaled that his government to aid was prepared.
Previously, a spokeswoman for the British had Commerce said that the country work closely together with GM on a possible financing package for Opel and Vauxhall. "Our goal is our locations the best opportunity in a allow the rehabilitated enterprise. "The government had clearly made a condition for funding was the long-term preservation of Production of Opel / Vauxhall in Britain.
Total Opel provides for the restructuring and necessary investments in the future a financing requirement of 3.3 billion euros. A GM will spend part of itself, the rest is from the European countries with Opel / Vauxhall coming locations.
The federal government is however currently no Discussions with representatives from General Motors and Opel on possible State financial support of Germany for Opel. Such Discussions with representatives from General Motors and the German car maker Opel could not be conducted nor because GM the federal government still no recovery plan for Opel had submitted, had the afternoon, one with the negotiations Opel trusted person from government to Dow Jones Newswires in Berlin said.


-By Laurence Norman, Dow Jones Newswires, + +49 (0) 69 297 25 103,
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(END) Dow Jones Newswires

January 19, 2010 13:56 ET (18:56 GMT)

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