EU Antitrust Boss Urges Opel Aid Decisions
29 Sep 2009, 14:26 UTC · By: Bogdan Popa / Even if Magna received GM's blessing to takeover the German brand Opel, it appears the Canadian - Austrian partsmaker facing more challenges before completing the deal. Neelie Kroes, European U...
Opel Workers Demand Magna to Keep Plants Open for Two Years
28 Sep 2009, 15:07 UTC · By: Bogdan Popa / Negotiations on the job cuts to be applied by Magna International continue, this time with another proposal coming from Opel's employees who are seeking to demand the Canadian - Austrian partsm...
Spain Wants EU Intervention in Opel Deal
28 Sep 2009, 14:20 UTC · By: Bogdan Popa / Just like several other European countries, Spain is asking for European Union intervention as the Magna - Opel deal might favor Germany who agreed to provide financial support for the Canadian - Au...
Magna to Purchase $1Bn Worth of Parts from China
28 Sep 2009, 13:08 UTC · By: Bogdan Popa / Since it received GM's final blessing to take over Opel, Magna is trying various market strategies under the pressure of major partners, including BMW and Volkswagen, who threatened that they m...
Porsche to Scrap Magna Contract
28 Sep 2009, 12:35 UTC · By: Daniel Patrascu / Troubles are far from over for Canadian manufacturer Magna, whose bid to take over Opel seems to have brought them more problems than solutions. The latest car manufacturer to threaten to pull out o...
Magna to Talk with VW Over Opel Deal
25 Sep 2009, 09:41 UTC · By: Bogdan Popa / Magna International, who has been chosen to be Opel's next owner, is looking to talk with Volkswagen, one of the main customers of the company, over the planned acquisition of the German brand ...
Opel Antwerp's Future Still Uncertain
24 Sep 2009, 14:40 UTC · By: Bogdan Popa / Workers continue the protests against Magna's decision to cut thousands of jobs and even close the doors of some plants across Europe. The Antwerp plant is a special case as employees in severa...
Mandelson Says Opel Takeover Is Driven by Political Intervention
24 Sep 2009, 12:37 UTC · By: Bogdan Popa / Similar to other European officials, Business secretary Peter Mandelson is still reserved when it comes to the Opel acquisition by Canadian - Austrian partsmaker Magna. He has already submitted a le...
Opel Workers Protest Against Potential Antwerp Closure
24 Sep 2009, 07:40 UTC · By: Bogdan Popa / Rumors hinting to a potential closure of Opel's Belgian plant in Antwerp are doing no good to Magna International, the new owner of the German brand. After Opel workers across Europe have alrea...
Goldman Sachs Invest in Geely, Geely Eyeballs Volvo
23 Sep 2009, 10:02 UTC · By: Daniel Patrascu / The recently announced $334 million investment in Geely announced by Goldman Sachs has made the Chinese manufacturer grow even more excited about the prospects of its mother company acquiring Volvo....
Magna to Cut 1,400 Vauxhall Jobs
22 Sep 2009, 19:11 UTC · By: Bogdan Popa / A leaked Magna business plan revealed that the Canadian - Austrian partsmaker intends to lay off 10,952 Opel workers at various plants across Europe. The documents, which were published by the Germa...
Magna to Concerned Automakers: Don't Worry
22 Sep 2009, 14:34 UTC · By: Daniel Patrascu / The avalanche of negative comments coming from manufacturers across the world has been somehow addressed by Canadian supplier and manufacturer Magna, through the voice of one of its CEOs, Don Walker...
BMW Warns Magna on Opel Deal
22 Sep 2009, 07:10 UTC · By: Daniel Patrascu / Joining the increasing line of manufacturers who express their concern about Magna taking over Opel, German manufacturer BMW is now saying its relationship with the Canadian parts supplier is in jeo...
GM, Magna to Start Talks on Opel Job Cuts
21 Sep 2009, 10:18 UTC · By: Bogdan Popa / Both Magna and General Motors hope to complete the close the Opel deal by October. But in order for this to happen, the involved parties must decide on how many people will leave the company and how...
Spanish Opel Workers Protest Against Magna
21 Sep 2009, 07:57 UTC · By: Bogdan Popa / Things are getting worse for Magna International, the Canadian - Austrian partsmaker recently picked by General Motors to become Opel's new owner. Thousands of Spanish Opel workers demonstrated...
UK Complains About Merkel's State Aid for Opel
20 Sep 2009, 10:21 UTC · By: Daniel Patrascu / Germany's projected state aid for Opel is slowly sparking protectionism accusations; yet, German chancellor Angela Merkel stands by her decision to help Opel. {ad| “We are naturally dete...
Opel Astra to Be Built in Russia
19 Sep 2009, 06:41 UTC · By: Daniel Patrascu / Sberbank, the Russian side of the GM-Magna-Sberbank-Opel affair, announced today that the new generation Opel Astra will be built in Russia, at GM's St. Petersburg plant. Production at the plan...
GM CEO Confirms: Antwerp Plant at Risk
18 Sep 2009, 07:52 UTC · By: Bogdan Popa / Magna has been chosen to be Opel's new owner and, under its umbrella, the German brand is expected to cut thousands of jobs at several plants around the world, including those in Germany. But t...
Geely, Magna Discussed Opel Stake Sale
17 Sep 2009, 10:56 UTC · By: Bogdan Popa / Geely, the Chinese carmaker who's apparently the only bidder for Volvo, recently held talks with Magna International over a potential sale of a stake in Opel. The news was revealed by a source ...
GM CEO Says Opel Will Be Sold by October
17 Sep 2009, 08:54 UTC · By: Bogdan Popa / General Motors has already agreed to sell 55 percent of Opel to Canadian – Austrian partsmaker Magna International and the US-based company’s CEO expects to get the final signing by earl...