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Earnings/Financials,
Opel
General Motors is shutting the doors on its Antwerp, Belgium manufacturing facility after failing to find a buyer for the plant. According to
Automotive News, companies from both the United States and China expressed interest in the factory, but GM says that neither could come up with a sustainable business strategy that would keep the doors open and workers employed. The plant currently provides work for around 1,300 people who were warned earlier this year that the facility could be closed by the end of 2010. Now that possibility has become a reality.
The Antwerp plant builds the current
Opel Astra, though with the company losing market share hand over fist, GM has been looking to shutter the facility for some time. Interestingly enough,
AN says that this is the first closing of a European automotive manufacturing facility since 2006. GM says that while it continues to wind down operations at the plant throughout the remainder of this year, it will still be open to hearing proposals from companies looking to invest in the site.
[Source:
Automotive News - Sub. Req. | Image: Filip Claus/AFP/Getty]
GM Belgium factory shutting down after failure to find buyer originally appeared on
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06-10-2010, 03:30 PM
