Opel's Fate Depends on Detroit 3
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“We will support companies like Opel if our help can secure a good future for these businesses and not just go up in smoke without taking any effect," Merkel was quoted as saying.
"Before we decide (on aid), we must know important decisions in the United States; for example, how things proceed with Opel's parent company General Motors, what independence General Motors can give Opel, what happens with Opel patents."
President Barack Obama's task force, which is now preparing to visit GM and Chrysler production facilities next week, has a deadline of March 31 to decide whether the two American automakers can come back to profitability and become viable companies. The two companies already received a $17.4 billion bailout in December but they repeatedly said an additional $22 billion loan is needed to restructure production lines.
General Motors yesterday said it is pleased with Obama's Task Force's visit to Michigan and emphasized that this is the first step towards a successful revamp of the auto sector.
"We believe today's visit provided a constructive glimpse of GM people, their passion for their work, and the future products and technologies that are an integral part of our viability plan," the American automaker said in a statement published on its official website.
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