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GM Europe sold to Magna..

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  • GM Europe sold to Magna..

    In today's motoring press:-

    Motor giant General Motors has decided to sell its European arm, including Vauxhall, to Canadian car parts firm Magna, the German Chancellor has announced. Skip related content
    Angela Merkel told a news conference in Berlin the move was the outcome the German government had been working towards as it fought to preserve the firm's 25,000 jobs and four plants in Germany.
    The decision is a blow to unions in the UK which have warned about possible job losses among 5,500 workers at Vauxhall's plants in Luton and Ellesmere Port if Magna was successful.
    Sources had earlier suggested that the GM board was set to decide not to go ahead with a sale, which would have eased fears of UK job losses.
    But later speculation said GM had decided to sell its European arm to Magna, which is backed by Russia's Sberbank, a move confirmed by the German Chancellor.
    Business minister Pat McFadden said: "Our objective throughout has been to get the best possible outcome for the Vauxhall workforce and the production plants in the UK.
    "We have been in close contact with all parties throughout, including GM in the US and Europe, and all the potential bidders.
    "Now GM has announced its preferred bidder is Magna. We will now continue our discussions with Magna - they have told us of their commitment to continuing production at both Ellesmere Port and Luton and we will work to make sure we get the best possible outcome for the UK."
    Unite's joint general secretary Tony Woodley said: "The uncertainty surrounding the ownership of Vauxhall is now over, but the uncertainty surrounding the long-term future of Britain's plants will continue. One of the alternatives could have been the unthinkable position of liquidation.
    "Nevertheless, with Magna as the new owner, we need to make sure that British plants and people are not treated disproportionately during the re-structuring that will take place. With that in mind, the union and the Government will no doubt continue to negotiate with Magna. We expect financial support from the UK Government for Magna to be dependent on the job and plant commitments given by the company."

  • #2
    lets hope they don't shut down the british factories and the job are all safe


    • #3
      Doesnt look too good for us

      Opel have been boxed off as the German govement has an agreement if an Opel Factory closes each employee gets paid full wages untill they are at an age to retire so its cheaper to keep the 4 Opel plants open.

      Everyone is really P***ed at Ellesmere Port today as Magna have said they would get shut of at least 850 jobs here. Even the trade unions in the plant havent got a clue whats going on.
      None of us wanted Magna as the new owner

      Being British doesnt mean anything now that the UK is part of the EEC
      Last edited by sean_dhc1; 10 September 2009, 11:39 PM.
      sigpic Cheshire & North Wales Region. Home of A&M Conversions


      • #4
        British Goverment - "too little too late"

        Have heard Ellesmere port will lose people and personally cant see IBC in Luton being there for much longer.


        • #5
          I understand IBC are screwed once their contract with Renault comes to a close. British Government are f*cking sh*te they do nothing to protect jobs and investment in the UK, we'll always lose out to other countries where they put their workers as the priority, not the shareholders and company chairmen.

          I hope Vauxhall doesn't leave the UK, it won't be Vauxhall anymore if it does, just another brand name, like other companies have done.


          • #6
            Fingers crossed that everything works out o.k


            • #7
              The next few weeks will tell and i hope the jobs are safe.


              • #8
                Lets just hope Vauxhall doesn't go the way most British vehicle manufactures have but some thing tells me a few years down the line Vauxhall may just be a memory.

                Can you name the British manufactures that are remaining?


                • #9
                  yes lets hope Vauxhall stays, for all our sakes aswell as sean and the lads and ladies at ellsmere and IBC at luton!


                  • #10
                    Thanks for all the words of support folks
                    I'll let everyone know any news over the next few weeks.

                    Only good thing is that Ellesmere port is the lead plant for the Astra Mk6 & only other plants to build it are Gliwce in Poland next year & a plant in Russia called St Petersburg.

                    We will also be building the next Astra Estate from early next year again called the Sportstourer.
                    The current Astra H ends production on the 22nd of September. we are building 5 Astra Mk6 an hour at present alongside the H models
                    sigpic Cheshire & North Wales Region. Home of A&M Conversions


                    • #11
                      Nowt worse than being bought over....we've changed hands 5 times in 10yrs, the glue for the stickers on the van barely has time to dry!

                      We're mostly owned by a Canadian Teachers pension fund, thankfully we are stripped to the minimum workforce already and this lot wanted a 30yr return on their investment, not a quick buck by asset stripping.

                      Heard on the radio they (Magna) have said the Brit plants will be ok, but there will be "efficiencies" made and we all know what that means.....


                      • #12
                        Originally posted by Scott View Post
                        but there will be "efficiencies" made and we all know what that means.....
                        That usually means corporate greed as far as Diageo are concerned Lets hope Magna have some level of social responsibility, we're just waiting for the redundancy package to be announced


                        • #13
                          Fingeres crossed it all works out and the UK plants are ok, but I doubt it

                          Sometimes wonder if we'd been better off losing the war

                          (No offence intended)


                          • #14
                            The problem is the governments over in Europe protect their workers rights, and to hell with big businesses moving into their countries, if they want to set up business there, do it by their rules.

                            Over here, because we are an island and not in the the Euro, there are barriers up already, so every council etc and government are fighting to offer companies land, deals, cash etc to keep them here or attract new investment.

                            Before long this will be a country of call centres