By Nico Schmidt DOW JONES NEWSWIRES
FRANKFURT (Dow Jones) – The struggling automaker Opel will heavily in new products and markets to invest. Within five years is to be renewed, the vehicle range of 11 billion EUR, as Nick Reilly, the new CEO of the Rüsselsheim Traditional company, on Tuesday at the launch of the future plan in Frankfurt said. By 2014, Opel aims to more than three quarters of all car models replace or revise.
Opel wants to focus on money in alternative Drives and environmentally friendly technologies stuck. Even in the Business with light commercial vehicles to invest Opel. Tested is also the marketability of a entry-level model below the Corsa supermini. In addition, the new Opel is considering management, on the growth markets in the Middle East and in the region Asia / Pacific region to become active.
In parallel with the investment, Adam Opel GmbH wants as announced the start rigorously red pencil. The difficult market in Western Europe make a reduction in capacity by about one fifth necessary, confirmed Reilly. To this end, 8300 points will be reduced, a majority of them in the production and nearly half the four locations in Germany. Total Opel deal Vauxhall and sister brand in Europe still 48,000 people.
Opel expects that the major Western European Market 2010 to 13.4 million vehicles is shrinking. While there, the record year 2007 or 17.2 million cars were sold, the sales declined, despite State sales incentives such as Germany’s scrapping of 14.9 million Dare. A recovery in demand to the level of previous years expected in Rüsselsheim not.
To the business operations in the wake of the profound Restructuring will maintain, we need financial Opel Support. The financial requirements, the company provides for 3.3 billion euros. 2.7 Billion, the Rüsselsheim expect the countries with Opel and Vauxhall sites. The U.S. parent General Motors by indicated that already contributed EUR 600 million. Additional funds from the U.S. will not flow.
The Opel-recovery plan had been long expected. The Location countries had called for such a plan several months ago to State grant to help. After the presentation of Reilly Plan on Tuesday morning along with a report from Accountants as well as a formal Kredit-/Bürgschaftsantrag to the Federal Government submits.
The auditors of Warth & Klein had the Opel plan for the future positively. "This plan shows a clear path to sustained profitability, "said Reilly. The forthcoming Negotiations with the Opel countries about assistance he could see why confidently forward. The latest comments were positive been.
However, there is no progress in negotiations with the Workers about their recovery contributions. After the presentation of the The management will Opelaner EUR 265 million a year in the form of Salary waiver to restructure contribute. Since Opel counterclaims of Workers but so far fails, the dispute escalated modified. According to Reilly continue discussions with the Employee representatives at European and national level.
With the help of massive investment in new products and Markets, and with a strict austerity Opel is already in the coming year again reach the breakeven point. 2012, the company will then be profitable. In recent years, were always in Rüsselsheim Losses incurred.
Website: www.opel.de -By Nico Schmidt, Dow Jones Newswires; +49 (0) 69 - 297 25 114; nico.schmidt @ dowjones.com DJG / ncs / rio Visit our website http://www.dowjones.de
(END) Dow Jones Newswires
February 09, 2010 07:16 ET (12:16 GMT)
Copyright (c) 2010 Dow Jones & Company, Inc.
Tags: light commercial vehicles, entry level model, adam opel, million cars, dow jones newswires, asia pacific region, sales incentives, car models, three quarters
