Opel in financial difficulties - time is of the essence
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According to information from the German press Agency dpa also emerged from the restructuring plan. So far, however, none of the Opel countries have officially pledged his support. In Germany, considerable doubts about the rescue plan had recently been formulated.
Opel wants to cut around 8,300 jobs
The car manufacturer had applied for state aid of 1.5 billion euros from the federal and state governments. Opel boss Nick Reilly recently stated that the manufacturer's liquidity would continue 'well into the second quarter'. This means that Opel could be dependent on government financial aid as early as the summer. Reilly said on Thursday evening in Rüsselsheim that he was hoping 'in four to six weeks for a fundamental decision' on the guarantees.
A large part of the restructuring costs will flow into the workforce reduction measures, most of which are planned for the course of the year. Opel plans to cut around 8,300 of its 48,000 jobs across Europe, 4,000 of them in Germany. The plant in Antwerp, Belgium is to be closed 'during the year'. According to the 'Handelsblatt', restructuring costs of EUR 1.1 billion are estimated for 2010 alone.
Auditors consider the Opel concept to be sustainable
An Opel spokesman said on Friday that carmakers are traditionally short of cash in the summer months:' Fewer cars are sold in summer because of the holiday season. At the same time, the model change in September be invested. ' During this time, the plants would be rebuilt and new tools installed. According to the report of the 'Handelsblatt', the auditors from Warth & Klein consider the Opel rescue concept to be fundamentally sustainable - but they also blame GM for the difficulties of Opel. The experts who prepared the report on behalf of the car manufacturer criticized above all the 'technological lag compared to the competition'.
Hope for German helpdecreases
D amit could raise the hopes for support continue to dwindle from the Deutschlandsfonds. Because aid from the Germany Fund is tied to strict criteria. The regulation is limited to victims of the current economic and financial crisis.