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.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
