India | UK | US

Spanish analysts hope for new and better deal for Opel - Summary

Zaragoza, Spain - Spanish Opel employees on Wednesday expressed concern that General Motors' decision not to sell the carmaker meant a return to  point zero  in negotiations about the future of Opel in Spain and elsewhere in Europe. Some analysts, ho...
Posted : Wed, 04 Nov 2009 12:46:22 GMT
By : dpa
Category : Business
News Alerts by Email ( click here )
Business News | Home
Zaragoza, Spain - Spanish Opel employees on Wednesday expressed concern that General Motors' decision not to sell the carmaker meant a return to "point zero" in negotiations about the future of Opel in Spain and elsewhere in Europe. Some analysts, however, expressed hope that a better deal could now be reached for the Spanish Opel plant in Figueruelas in the north of the country.

Spanish Opel employees had earlier reached an agreement with Magna, the Canadian-Austrian auto parts group which had intended to take a majority stake in Opel, foreseeing 900 job cuts at the factory employing 7,500 people.

The weeks-long talks had now come to naught, employees' representative Ana Sanchez complained, saying the GM announcement meant a return to "point zero."

Candido Mendez, secretary-general of the trade union confederation UGT, pointed out that an earlier proposal by GM for the Figueruelas plant had been "relatively better" than the deal with Magna.

However, he called for "caution" and on GM to give "clear and transparent" information about its restructuring plans.

It was possible to reach "a good agreement" with GM, said Marcelino Iglesias, prime minister of the Aragon region where the Spanish factory is located.

Mendez called for a joint European position in upcoming talks with GM.

Copyright DPA

Share/Save/Bookmark

Article : Spanish analysts hope for new and better deal for Opel - Summary
Print this article
Email this article

Stay Updated
News gadget on your Google homepage
Subscribe to a news feed in Google Reader


Related News

Jordan, Turkey open final round of talks for free trade accord
Amman - Jordan and Turkey on Tuesday held the seventh and final round of negotiations for liberalizing trade between the two countries, a senior official said. A free trade agreement is now expected to be signed when Turkish Prime Minister Recept Tay...

International stock market quotations 24 November 2009
Frankfurt - The following index quotations were noted on the world's major stock markets:New York Dow Jones 10,412.7810,450.95(-38.17) New York NASDAQ Comp.2,164.80 2,176.01(-11.21) TokyoNikkei 9,401.58 9,497.68(-96.10) Sydney All Ordinaries 4,708.20...

Frankfurt Stock Exchange quotations 24 November 2009
Frankfurt - Frankfurt Stock Exchange closing prices in euros. In brackets the point movement of index/price movement of stocks against previous quotation: ...

Germany underpins tottering state-owned bank WestLB
Berlin - Key stakeholders have agreed to underpin a tottering state-owned German bank, WestLB, to stop it lurching into insolvency, a Finance Ministry spokesman in Berlin said Tuesday. WestLB, based in the western city of Dusseldorf, will be the firs...

Al-Jazeera buys rival ART sports network
Doha - Qatar-based regional broadcast giant al-Jazeera's sport channel on Tuesday announced it had sealed a deal to purchase its Saudi-owned rival Arab Radio and Televison (ART)'s sports channel. Al-Jazeera now owns the ART sports network's brand and...

Despite optimism, economy 'still volatile', says Merkel - Summary
Berlin - Despite a brace of positive data for the German economy on Tuesday, Chancellor Angela Merkel warned against undue optimism at an employers' conference in Berlin. We find ourselves on very volatile ground, Merkel said, adding that a new spe...

EU market regulators raid Czech energy company
Brussels/Prague - The European Commission said Tuesday it had raided the premises of Czech energy company CEZ following concerns that it may have engaged in illegal practices aimed at shutting rival firms out of the market. The suspected illegal con...

Have your Say
Name
Email
Subject
Your Comment

Enter Verification code
 
  

 

 

More Business News click here
Follow The Earth Times
Subscribe to RSS Follow Earth Times on TwitterNews by email
Share/Save/Bookmark

 
 



 
Subscribe to free Earthtimes
News Alerts by Email Click here
For RSS Feeds Click here
or Create your own RSS

Add to Google Toolbar
Breaking News
Press Releases

 


The Earth Times
News Category

© 2009 www.earthtimes.org, The Earth Times, All Rights Reserved | Privacy Policy
Earth Times accept no responsibility or liability either directly or indirectly for views or opinions expressed in articles or comments.