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GM and Opel to provide more information for aid
Source: Agencies |
March 7, 2009, Saturday
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Print Edition
Print Edition
GENERAL Motors Corp and its subsidiary Adam Opel AG said yesterday that they would provide the German government more information regarding their restructuring plans in hopes of securing government financial help.
After a meeting between officials from GM, Opel and the government at the Chancellery in Berlin yesterday, the companies were asked to provide more information on a number of unanswered questions regarding plans to make Opel viable -- a process officials said could take weeks.
"We had an open, good and constructive conversation with the General Motors management," German economic minister Karl-Theodor zu Guttenberg said after the hour-long meeting. "The federal government will review all recommendations that come forward."
"It's a matter of reason that we don't want to make any hasty decisions, but that we make a decision on a plausible basis," Guttenberg said. "We all agreed that we are now talking about a process, one that could take weeks."
Opel is hoping to secure at least 3 billion euros (US$3.8 billion) from the government, and more independence from its American parent.
Guttenberg said that GM has to clarify issues at headquarters in Detroit and that the company is also in close contact with the government in Washington regarding similar issues.
Guttenberg said that it was "very important" that the affected workers know that the government will do what's possible, "reviewing the plausibility of all recommendations."
After the meeting, GM Europe President and Opel Supervisory Board Chief Carl-Peter Forster said that GM and Opel would do everything to get Berlin the requested information.
Forster said that the issues were technical, rather than political, without being specific.
"It's completely clear to us that we're dealing with very complicated material here and a lot of detailed questions that we will answer, here in Europe, but especially in the US," Forster said.
"There are a lot of questions to be answered so the concept is truly strong and secure. It's clear to us that this will take some time."
After a meeting between officials from GM, Opel and the government at the Chancellery in Berlin yesterday, the companies were asked to provide more information on a number of unanswered questions regarding plans to make Opel viable -- a process officials said could take weeks.
"We had an open, good and constructive conversation with the General Motors management," German economic minister Karl-Theodor zu Guttenberg said after the hour-long meeting. "The federal government will review all recommendations that come forward."
"It's a matter of reason that we don't want to make any hasty decisions, but that we make a decision on a plausible basis," Guttenberg said. "We all agreed that we are now talking about a process, one that could take weeks."
Opel is hoping to secure at least 3 billion euros (US$3.8 billion) from the government, and more independence from its American parent.
Guttenberg said that GM has to clarify issues at headquarters in Detroit and that the company is also in close contact with the government in Washington regarding similar issues.
Guttenberg said that it was "very important" that the affected workers know that the government will do what's possible, "reviewing the plausibility of all recommendations."
After the meeting, GM Europe President and Opel Supervisory Board Chief Carl-Peter Forster said that GM and Opel would do everything to get Berlin the requested information.
Forster said that the issues were technical, rather than political, without being specific.
"It's completely clear to us that we're dealing with very complicated material here and a lot of detailed questions that we will answer, here in Europe, but especially in the US," Forster said.
"There are a lot of questions to be answered so the concept is truly strong and secure. It's clear to us that this will take some time."
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