GM to make Poland big Chevrolet producer

WARSAW, Poland, Sept. 18 (UPI) -- U.S. automaker General Motors announced plans to rebuild the FSO manufacturing plant in Poland and make it Europe?s biggest Chevrolet producer.

Peter Forster, chief executive officer of General Motors Europe, said the company wants to make cars in Poland for the next 25 years or more, a Polish Radio report said. GM plans to produce 400,000 Chevrolet vehicles annually.

Earlier this month, GM announced it paid $254.5 million for 40 percent of FSO shares.

GM is prepared to pay to the Polish government $192 million that the state invested into bailing out the FSO plant, after the South Korean Daewoo car producer went bankrupt in 2001, the Rzeczpospolita daily said.

The FSO plant in Warsaw was manufacturing Polonez cars, Poland?s main auto under the communist regime and the factory retained leadership in car production after Daewoo bought it in 1995.

Published: Sept. 18, 2007 at 11:33 AM

Anonymous

19/09/2007

It is interesting to see how Mr Forster is informing the news media but still does not give any information officially to the EEF violating the EU directive of information and consultation, the EU directive for European Works Councils, the EEF founding agreement and the agreement on the EEC. How long does it take until a protest will be initiated? Not to react to that kind of provocation is a kind of self-abondonment for everybody.
It is also interesting to see how much money GM is willing and able to invest in Eastern Europe even when they are telling the Western European plants that GM does not have enough money for some investments. 138 Mio € for the payback of the subventions and 184 Mio € for the Joint Venture GM-FSO is still a lot of money.

GM to make Poland big Chevrolet producer

Write a comment

Welcome

Location

Topic

Brand

Union