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Opel renovation: Federal government awaits GM application for state aid

dpa
Opel renovation
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GM wants to participate in O pel countries collect a total of around 2.7 billion euros in tax money. The Americans themselves only want to invest around 650 million euros so far, the Detroit automaker, which is controlled by the majority of the US government, announced in December.

GM has to dig deeper into its pockets

In the opinion of the negotiating circles, this calculation by GM should not work out. The company will have to dig much deeper into its own pockets. 'GM's own share is far too small,' said a person familiar with the negotiations.

The federal government and the four federal states with Opel plants, Hesse, Rhineland-Palatinate, Thuringia and North Rhine-Westphalia, are in constant contact. They want to prevent GM from playing them off against each other.
Federal Minister of Economics Rainer Brüderle (FDP) is skeptical of state aid. However, he has given GM the prospect of a fair review of the application.

Opel boss Nick Reilly wants to continue negotiations with the works council on Monday in Rüsselsheim about the employee's wage cut of 265 million euros annually for the next five years . The workers have switched to stubborn because GM wants to close the plant in Antwerp. Reilly wants to reduce the Opel workforce from 48,000 to around 40,000 by 2011.

IG Metall warns of state aid

The plans of the US auto company General Motors (GM ) According to the Frankfurt IG Metall district chief Armin Schild, the renovation of Opel should not be supported with tax money. There could be no state aid for this, said Schild, who sits on the supervisory board of the car manufacturer, the 'Tagesspiegel am Sonntag' published in Berlin.

The latest GM plan is worse than anything the previous buyer interested in Austro-Canadian supplier Magna had submitted, Schild said. In addition to the exaggerated job cuts, Schild criticized above all that there was a lack of future investments in new drives and new markets. The plan only extends two years into the future - at least five are common in the auto industry.

The negotiations between the workforce and GM, which were put on hold after the closure of the Antwerp plant, are an alarm signal for the trade unionist. At Opel there was never less solution, said Schild. TheThe risk of Opel insolvency is by no means averted.

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