New Opel owner maintains commitment to Hungary

Recycling

Workers at Opel’s Hungarian base in Szentgotthárd, western Hungary, have been reassured by an announcement by the new owner, Franceʼs Groupe PSA, promising to keep existing contracts intact, according to reports.

Franceʼs PSA agreed on Monday to buy General Motorsʼ Opel and Vauxhall brands for EUR 2.2 billion, according to reports. With the move the group becomes the second biggest automotive company in Europe.

The new owner has said it will respect all of the companyʼs existing contracts and agreements, including those affecting its engine plant in Szentgotthárd, an Opel spokesman told Hungarian news agency MTI.

Opelʼs engine plant in the west Hungarian city is the companyʼs biggest in Europe, the Opel spokesman noted, adding that it would be too early to make any announcement on its fate other than that PSA respects the contracts and agreements signed by GM, MTI added.

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