General Motors Opel restructuring could postpone until January

General Motors Opel restructuring could postpone until January

GM could postpone plans for restructuring the Opel / Vauxhall until January 2010, director-general of the European subsidiary of GM, Nick Reilly, quoted by Yahoo Finance.

Reilly Nick Reilly, who had opted for the restructuring plan to be implemented in December, announced the official blog that "it appears that the ad would be held in January. "There is a broken promise, the desire to do something right," Reilly wrote. He added that the restructuring of Opel and Vauxhall will be one of the most complex industrial reorganizations in recent years and will affect plants and thousands of people and their families.

"We are determined to do it (no restructuring) correctly. You must do it properly. Although we hope to have new business model completed in December, appears to have made a lot of work and the need for further consultations," added Reilly.

Last month, GM has stopped selling the plans suddenly Vauxhall Opel consortium formed by car manufacturer Magna and Russian bank Sberbank and decided to restructure one activity from Opel.

Source: http://www.gm.com/


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