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  • Vauxhall/Opel sold to Magna

    Sep 10, 2009 4:02 PM

    General Motors has sold a 55 per cent stake in Vauxhall and Opel to Magna International and its Russian banking partner Sberbank.

    GM will retain 35 per cent of the company, while the remaining ten per cent will be held by an Opel employee trust fund.

    “The hard work over the past two weeks to clarify open issues and resolve details in the German financial package brought GM and its board of directors to recommend Magna/Sberbank,” GM CEO Fritz Henderson said in a statement.

    He...Read the full article
    • SilverTone
    • Joined Sep 10, 2009
    • 1 Posts
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    Re: Vauxhall/Opel sold to Magna

    Sep 10, 2009 4:07 PM

     

    For Mandy ..

    I'm eely and oily,

    Vauxhall's hot trottered toast.

    Don't drive UK!

    • JackB
    • Joined May 06, 2008
    • 219 Posts
    • Status: Offline

    Re: Vauxhall/Opel sold to Magna

    Sep 10, 2009 5:36 PM

    That's sad news - selling Opel and the bulk of GM technology to the Russian state (don't be fooled by this Magna deal nonsesnse - the buyer is Russian state controlled Sbierbank) is hardly a wise move by Barrack Obama's government. 
    • Chris576
    • Joined Jul 07, 2009
    • 198 Posts
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    Re: Vauxhall/Opel sold to Magna

    Sep 10, 2009 6:26 PM

    I've just heard Tony Woodley on the radio. Every time he opens his mouth I just find myself wondering how a major union could end up with such a complete idiot in charge.

     

     

  • Re: Vauxhall/Opel sold to Magna

    Sep 10, 2009 8:17 PM

    Chris576:

    I've just heard Tony Woodley on the radio. Every time he opens his mouth I just find myself wondering how a major union could end up with such a complete idiot in charge.

     

     

    no, you don't do Scouse Tony justice, he's the joint boss of UK's biggest Union, Unite. Agree, pitiful when the lesser graded Klaus Franz, Opel's Works Council leader, speaks perfect English and makes persuasive addresses on the airwaves for the people he represents. Woodley was also the clot who shot his mouth off about a major vehicle assembly plant being on the brink of closure with 5,000 jobs at stake, earlier this year. Turrns out he was talking about a tinpot outfit in Brum, owned by a Russian, employing a man and his dog, knocking out dodgy vans, once in a blue moon, The man's a twit.

    By the way, didn't old Angie Merkel play a blinder. Got just what she wanted when everyone was saying she was a clown and was sunk - media arseholes, what do they know. Shame old Gordon Brown and boy wonder Mandelson are such jerks by comparison.

  • Re: Vauxhall/Opel sold to Magna

    Sep 10, 2009 8:46 PM

    A major union? Run by an idiot? Whatever next?
    • daddy 3
    • Joined Jul 14, 2009
    • 128 Posts
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    Re: Vauxhall/Opel sold to Magna

    Sep 10, 2009 9:12 PM

    Johnnytheboy:
    A major union? Run by an idiot? Whatever next?

    A country run by an even bigger idiot, GB and Labour.

    The worse thing about this sale is that the Russians have control now so in a few years once the tecno has been sent east Opel and Vauxhall will be shelved and sold on and we will be driving Lada Astras etc.

     You just have to look at companies that have been taken over by Russian and Chinees,a few years down the line once they have picked the cherrys and set then up in there own countries they leave the crumbs and just walk away.

    I do hope i am wrong and this is only my opinion.

    • sorrel
    • Joined Dec 18, 2008
    • 541 Posts
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    Re: Vauxhall/Opel sold to Magna

    Sep 10, 2009 11:03 PM

    Well there it is! GM sold Opel/Vauxhall to Magna and the Russians!

    Shame! Having spent the last 2 months in Russia I can tell you exactly what's planned (according to Russian media).

    The Russian government wanted this deal to go through (with Deripaska, the man behind Gaz (Volga and Gazelle vans) and the failed LDV venture) so that the ailing Russian motor industry can get an easy kick start producing ready made and successful Opels with Volga badges. Making sense yet? Well, Gaz will be absorbing Opel and making badge engineered Opels for the Russian (etc) market.
    According to Russian media this evening, the new Volga Siber is going to be shelved to make way for Russian built Opels!  So it's happening already!
     
    LIke with LDV, do you think Sperbank and Gaz will be keeping UK and German plants going whilst building them in Novgorod? Not very likely after 2013 according to most Russians! So, bye bye Vauxhall! Will it be missed? Well, from a jobs viewpoint I would think yes.

    I hope I'm wrong, but I was really hoping GM wouldn't sell!
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