General to give up European loans to use internal funding restructuring Opel
Integrated electric reported that GM (General Motors Co.) 16 June said that universal decided to cancel the European government loan guarantees and grants through the internal Opel in the form reorganization (Opel) and Vauxhall (Vauxhall).
General plan funding EUR 33 billion (approximately US $ 4 billion), the reorganization of Opel, common European automobile production and the number of employees decreased by 20%, respectively, and in 2014 launches a series of Opel new models.
Prior to this, due to the General credit rating is low, the common desire through European government loan guarantees access to low-interest loans. However, not long ago, Germany Government refused to provide loan guarantees to universal, common in Europe, the road becomes foreseeable future loans.
In view of the urgency of restructuring, as well as Opel GM's own financial situation improves, the General decided to give up seeking loans, grants and projects through completion of Opel at Headquarters.