Boston, MA 10/14/2013 (wallstreetpr) – General Motors Company (NYSE:GM) Brand Opel which is suffering from huge losses is all set to make an investment worth 130 million Euros or 175 million dollars. According to a statement issued by Opel on Wednesday, this investment is being made in their German Engine and parts plant which is housed in Kaiserslautern. The plant was laid down back in the year 1966 and it will be using the investment funds to manufacture body and chassis for the upcoming league of Astra which is a compact one and Insignia designed to suit the needs of a medium sized family. Along with this, the plant will also be producing Euro 6 generation diesel engines with a capacity of 2 litres from the month of October next year.
In the past eight years the plant has slacked down nearly 1000 employees from job and has suffered several restructure processes. The current number of employees working in the factory is around 2200 as per the labor leader of the plant, Lothar Sorger. He further added that this investment should serve as an assurance for the present staff that the company will be putting a full stop on employee reduction for the next five years, if the plan becomes a blockbuster hit for the plant.
The General Motors Company (NYSE:GM) currently operate four plants in Germany under the brand name of Opel at Kaiserslautern, Ruesselsheim, Bochum and Eisenach. At the beginning of this year the company decided to go ahead with the closure of their plant based in Bochum and it will be the first ever German car Plant to be closed in the recent decades. It is most likely to be shut down by the end of next year when production will be completely stopped.
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