Opel/Vauxhall will become a global company, says CEO Nick Reilly

Article by Christian A., on August 27, 2010

In a letter sent to Opel/Vauxhall's 48,000 employees, CEO Nick Reilly said that they should all strive to become a global company with a new marketing message and that the gaps in its product and powertrain lineup will be filled.

In addition, Reilly said that this year will be a difficult one as new-car sales are expected to drop by 1.5 million.

Because of this, Reilly is urging the employees to adopt a "winner" mentality as he attempts to turn around the European division of General Motors Co. Reilly said that now is the time for Opel/Vauxhall to be "clear winners again and to be recognized as clear winners."

Next month, Reilly is set to present his restructuring proposals, which include his plan on the elimination of 8,300 jobs and the closure of Opel's Antwerp, Belgium, factory.

To be able to finance this plan, Opel requires 3.3 billion euros ($4.7 billion). Opel is seeking 2.7 billion euros in financial aid from governments in countries where Opel has factories.

Reilly also wrote that the circumstances that the company is in are not typical and that it must work to turn its operating results around in a very difficult market environment.

In 2010, Reilly said that it's expected that the company would sell 1.5 million units lower in Western European market lower than in 2009. [autonews - sub. required]

Topics: opel, vauxhall, ceo

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