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Stock impact report

Opel CEO says German costs twice those of other plants -source [Reuters]

General Motors Company (GM) 
Last general motors company earnings: 2/5 08:05 am Check Earnings Report
US:NYSE Investor Relations: gm.com/investors/index.html
Company Research Source: Reuters
Opel CEO says German costs twice those of other plants -source | Reuters Reuters Staff 3 Min Read HAMBURG, April 19 (Reuters) - Some of Opel’s German plants cost twice as much to run as new French owner PSA Group’s other factories, Opel’s chief executive told employees as the company tries to hammer out an effiency deal with labour leaders in return for investments. Michael Lohscheller was speaking at a town hall meeting on Wednesday as the issue took on a national dimension with Chancellor Angela Merkel intervening to say she expected PSA to honour its commitments during the 2017 takeover. At stake is the future of Opel’s Eisenach plant, which employs 1,800 workers. Shop stewards earlier this week rejected wage concessions demanded by PSA in exchange for a commitment to invest in a production line for a new model there. Lohscheller told a town hall meeting at Opel’s headquarters in Ruesselsheim, western Germany, that profitability was improving but added: “In part, our factories were Show less Read more
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