The facility, which is used for the development and manufacturing of six-speed automatic transmissions for vehicles, will be used by GM's German unit Opel. MLC, the company set up to settle past liability claims from General Motors Chapter 11 reorganization, owns the facility since the reorganization of GM last year.
“GM’s acquisition brings the manufacturing facility into GM’s global manufacturing network, and adds development capability to GM’s global engineering network. The proven expertise of GM Strasbourg is an important asset for GM in a core area of the business,” the American manufacturer says in a statement.
Aside for the facility itself, which comprises a production plant and a development center near the port of Strasbourg, GM will also take over a client network which is made of both GM operations and third-party car manufacturers.
The sale of the Strasbourg facility was announced by GM ever since September 2008. Of course, the bankruptcy changed all those plans and to this day, few were those who would have guessed GM will be the one to buy it.
The plant has been established in 1967 and also manufactures automatic transmissions for BMW. The facility operates a state-of-the-art engineering center and a world-class aluminum die-cast foundry. The plant currently employs 1,100 people.
The terms of the deal have not yet been disclosed.
Google News