Winterkorn Vw | TheDetroitBureau.com
Detroit Bureau on Twitter

Posts Tagged ‘winterkorn vw’

GM Says Opel Not for Sale

German subsidiary making “solid progress.”

by on Jul.18, 2011

Former GM engineer Frank Weber helped guide development of both the Chevy Volt and its near-twin, the Opel Ampera, shown here.

Again battling speculation about the possible sale of Opel, which has been circulating in the German press, General Motors has dropped its usual policy of not commenting on speculative stories by firmly stating the long-troubled subsidiary is not for sale.

GM came close to selling off a majority stake in Opel two years ago, and many observers, especially in Germany, believe that with Opel’s recovery still stalled GM might be once again looking for a buyer.  The long-running rumors gained momentum when Volkswagen chief executive officer Martin Winterkorn. Winterkorn last week suggested GM was trying to sell Opel.

Subscribe Free!

“In Wednesday’s edition of the Frankfurter Allgemeine Zeitung, Volkswagen CEO Martin Winterkorn commented on rumors regarding Opel, which continues a regrettable pattern of fanning speculation as Opel makes solid progress in its restructuring, in generating improved operating results and more,” GM said in statement posted on the company’s media web site.

(more…)