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Opel Germany 2008 with a loss of billions

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After the conclusion published a few days ago in the Federal Gazette, the Adam drove Opel GmbH posted a loss of 1.1 billion euros in 2008. In 2007, the deficit was 363 million euros.

Aid from the Germany Fund is tied to strict criteria

The equity base had also melted to 200 million euros in 2008, the equity ratio fell to 2.6 percent after 11.2 percent in the previous year. The car manufacturer has recently suffered from liquidity bottlenecks again and again. 'The numbers reinforce doubts as to whether Opel meets the strict criteria for the state funds requested,' writes the 'Handelsblatt.' Because aid from the Germany Fund is tied to strict criteria. Companies have to prove that they did not have any economic problems as of July 1, 2008: The regulation is limited to victims of the current economic and financial crisis.

An Opel spokesman said on request that Adam Opel GmbH of the year 2008 is not comparable with today's Opel /Vauxhall company. The annual financial statements now published only include the German works. Since May 2009, however, the entire European business of Opel and its sister brand Vauxhall has belonged to Adam Opel GmbH: 'This includes all plants and sales organizations in Europe.' Opel boss Nick Reilly had submitted an application for German government aid worth 1.5 billion euros. To assess whether Opel could receive state aid from the Deutschlandsfonds, the entire company today had to be considered, the spokesman emphasized: 'As of July 1, 2008, Adam Opel GmbH was not a company in difficulty'.

D as was also a prerequisite for the bridge loan last year , with which the federal and state governments kept the carmaker afloat for months. The meanwhile dissolved European organization of the US parent company General Motors with the main brand Opel had made an operating loss of 2.3 billion euros in 2008 according to earlier information.


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