GM seeking for bids for its powertrain plant in Strasbourg

Article by Christian A., on May 10, 2012

General Motors Co. is seeking for bids for its powertrain plant in Strasbourg, France. GM is making the second attempt in four years to sell the plant amid hopes that the factory will continue to operate with the current workforce, supply base and customers. GM, which entered an alliance with France's PSA/Peugeot-Citroen last February, said last Wednesday that it has hired advisers to handle the sale of the facility in eastern France, which has about a thousand workers.

In a statement, GM said that it prefers potential buyers that will continue its existing operations. At the start of the economic crisis in 2008, GM had tried to sell the Strasbourg plant, which rolls out the automatic gearboxes for its own brands and BMW.

In 2010, GM had bought back the plant for one euro. This is the year that came after its own short bankruptcy, after the company charged with liquidating GM assets wasn’t able to locate a buyer.

Under the terms of the buy-back, workers agreed to freeze wages for two years in exchange for job guarantees. Last Wednesday, GM spokesman Jim Cain said that there are commitments in place to continue manufacturing the transmissions for the next several years. Last year, the Strasbourg plant built 280,000 six-speed transmissions, primarily for vehicle assembly outside Europe.

Topics: gm

If you liked the article, share on:

Comments

Recommended

Volkswagen of America has a nice surprise for potential customers of the new VW Tiguan (2018 model year). The latest iteration of the Tiguan – set to arrive in the...
by - May 25, 2017
Toyota Camry is many things but exciting isn’t one of its frequent descriptions. That’s why throughout the years, Toyota has been stepping up its game for the said model in...
by - May 25, 2017
Volkswagen intends to leave the crowd in awe at the Worthersee Meeting (Wortherseetreffen) – the largest VW and Audi car show in Europe – with its new GTI Worthersee concept. ...
by - May 25, 2017
The much-hyped 2018 Dodge Challenger SRT Demon certainly has attracted a lot of attention, and possibly many potential buyers. Now, here is good news for interested customers: Dodge has finally...
by - May 25, 2017
An RHD (right hand drive) BMW M4 DTM Champion Edition has been listed to be for sale by Romans International, UK’s leading supercar dealership. The first owner of this rare...
by - May 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries