NEWS

VAUXHALL chief Nick Reilly says he is making ‘significant progress’ since taking responsibility for the brand.

Explaining the decision to halt the sale of Vauxhall and Opel to Magna, he said ‘we firmly believe that both companies (are better off) with rather than without each other’.
But the plans can only work if a ‘significant restructuring of [...]

VAUXHALL Opel president Carl-Peter Forster is to leave the company with immediate effect, it has been announced.
His departure is seen as a result of the failed takeover by Magna International.
This means GM must begin an ‘immediate external search’ for a new CEO. While that is underway, rumours suggest GM hero Bob Lutz is going to [...]

GM has CALLED OFF the sale of its European Vauxhall and Opel operations in a shock industry move.
The news broke late on Tuesday 3 November.
GM says it is because of an improving set of trading results over the past few months, which means it can now justify keeping the brands.
The firm also acknowledges the [...]

BBC News is reporting a deal has been done to save BOTH of Vauxhall’s car production plants in the UK.
The Unite union, it says, has done a deal with new owners Magna, one which also ensures there are NO compulsory redundancies.
Deal terms include a two-year pay freeze and other cost-cutting initiatives, but in return, there [...]

EU competition commissioner Neelie Kroes is looking into the proposed sale of Vauxhall/Opel to Magna.
After a meeting in the European Parliament, Vicky Ford MEP said the commissioner was to seek more information, on:
•    Relative efficiencies of Opel/Vauxhall plants
•    Further details on possible implications of the proposed deal
This is to address concerns that some states are [...]

GERMAN newspaper Frankfurter Allgemeine Zeitung has seen leaked documents, detailing Vauxhall job cuts.

According to the paper, 30 percent of Vauxhall’s two-plant UK workforce is to be cut.
This equates to around 1400 jobs – with the biggest cuts to occur at the firm’s Luton van-making plant.
Overall, new owners Magna are going to cut 11,000 jobs across [...]

GM has now officially announced its board has agreed to sell a 55% stake in Vauxhall to Magna.
The board of directors ‘supports a bid from the consortium of Magna International Inc and Sberbank to buy a majority stake in its European Opel/Vauxhall operations.’
Binding agreements, however, won’t be concluded for another few weeks. Items still [...]

CAR buyers will help determine the future of Vauxhall’s UK plants, says union leader Tony Woodley.
The Vauxhall brand, he says, is a huge part of GM Europe. Sales here are significant.
‘Magna needs to realise that any attempt to close plants will have an adverse market reaction,’ said the Unite chief.
Any plant closures could see [...]

BUSINESS minister Pat McFadden says Magna has told him it sees a future for both UK Vauxhall plants.
The minister said Vauxhall’s new owners Magna had personally pledged to Government that both factories are in its future plans.
‘We now have to hold them to that - make those assurances stick,’ said the minister.
For its part, [...]

VAUXHALL owner GM Europe has finally been sold to the Canadian group Magna, it has been announced.
German Chancellor Angela Merkel made the announcement, ahead of an Opel Trust statement detailing the specifics.
Some say it is the worst case scenario for Vauxhall. The Magna deal guarantees jobs in Germany – but leaves 10,000 jobs in [...]