Magna to Inspect Vauxhall

In light of their future ownership of Opel, Magna has named a team to go to the UK and inspect Vauxhall's operations and determine whether the company is viable or not. The visit will begin on Monday and, even if prospects aren't good for the British based manufacturer, Siegfried Wolf, Magna's CEO, says he is very positive.

"We are very positive that we will find a solution that is good for Britain. There is a lot of potential in England and every job lost is one too much," Wolf was quoted as saying by just-auto.com. The CEO added that Vauxhall needs to ensure that its products are competitive. But aren't most Vauxhall vehicles rebadged Opels?

The visit also comes as a result of Wolf's meeting with UK's business secretary, Peter Mandelson. The latter said his government is ready to provide financial assistance under a viable plan for Vauxhall. Still, the UK is aware that there are still many technical aspects to be resolved in the following weeks.

Magna's plan for Opel and its adjacent business is said to state the closure of some of the businesses located outside Germany. The aid offer made by the UK government comes in response to the same type of move made by German chancellor Angela Merkel, who, in exchange for a 1.5 million euro aid has secured the future of the four Opel factories located in Germany.

Under its plan, Manga will fire as many as 11,000 people, the majority of which are expected to be from locations outside Germany. The plant most rumored to be closed in the UK is Vauxhall's van factory in Luton.