TEXT-Fitch:European auto plant closures could be credit positive

Source: Reuters Mobile

May 24 - Decline in demand and fierce pricing competition are making the operating environment difficult for mass-market European carmakers, Fitch Ratings says. Automakers are grappling with the likelihood of plant closures amid the fallout from t ...
Full article at: Reuters Mobile  More like this  2 days ago, 6:24am CDT

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UK Government Accused of Illegal Promises to Opel and General Motors: Report

Source: International Business Times

The UK government may have made illegal promises to General Motors Co. ( NYSE : GM) to shift production of the Astra compact car to its Opel/Astra plant in Ellesmere Port in the Merseyside from locations in Germany ...
Full article at: International Business Times  More like this  4 days ago, 12:32pm CDT

Astra move challenges GM-Peugeot jigsaw

Source: Reuters

PARIS May 22 (Reuters) - General Motors' decision to stop making its second-bestselling European car in Germany may complicate further restructuring and joint production plans with PSA Peugeot Citroen, u ...
Full article at: Reuters  More like this  4 days ago, 10:30am CDT

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Urban Outfitters Earnings: The Profit Streak Continues

Source: Wall Street Cheat Sheet

Ford Motors (NYSE:F) has announced that it will start shipping its first electric passenger car to dealers this weekend. People familiar with the matter said that approximately 350 Focus Electric cars will be sent to 67 dealers in California, New Jers ...
Full article at: Wall Street Cheat Sheet  More like this  5 days ago, 3:31pm CDT

GM’s Ellesmere Port Decision Could Collide With EU Anti-Subsidy Rule

Source: The Truth About Cars

A day before GM officially announced that the Astra production will be moved to Ellesmere Port, a move that is widely believed to seal the fate of Opelâs Bochum plant, we said that the decision wonât go down well in Germany, and tha ...
Full article at: The Truth About Cars  More like this  5 days ago, 9:56am CDT

Writing on wall for Opel's Bochum plant

Source: Euronews

Anxious workers at Opel’s Bochum factory, one of four the General Motors-owned subsidiary has in Germany, are worried the axe is about to fall on their workplace. GM is widely thought to be planning to get ...
Full article at: Euronews  More like this  5 days ago, 8:40am CDT

Germany's Opel workers at Bochum are left in the dark

Source: Deutsche Welle

Employees at carmaker Opel's production facility in Bochum, Germany, will have to continue to fear for their jobs, as a general staff meeting on Monday failed to provide clear answers regarding the plant's long-term perspectives. GM's European divisi ...
Full article at: Deutsche Welle  More like this  5 days ago, 6:33am CDT

Future of Opel's Bochum plant still uncertain

Source: Automotive News

CEO Stracke will present Europe-wide restructuring plan on June 28 BOCHUM, Germany -- The future of Opel's factory in Bochum, Germany, remains uncertain after CEO Karl-Friedrich Stracke gave no guarantees that the plant will escape closure unde ...
Full article at: Automotive News  More like this  5 days ago, 6:18am CDT

Opel CEO to face heat from workers over likely plant closure

Source: Reuters

FRANKFURT, Germany May 21 (Reuters) - The head of General Motors unit Opel will face workers' concerns on Monday over reported plans to shut one of its four German plants as the automaker pulls production of the Astra, its best ...
Full article at: Reuters  More like this  5 days ago, 12:37am CDT