Automaker Opel says it will proceed to close Antwerp plant

Automaker Opel says it will proceed to close Antwerp plant

2010-10-04 20:00:16 GMT+7 (ICT)

ANTWERP, BELGIUM (BNO NEWS) -- Automaker Opel on Monday announced that it will proceed to close its Antwerp plant in Belgium by the end of the year.

The announcement on Monday follows an announcement earlier this year when Opel declared the intent to withdraw from its Antwerp plant by the end of 2010. Following this announcement, the company set up a working group involving the Flemish government, European and local employee representatives, and European and local management.

The objective of this group was to identify potential third-party investors for the plant by an agreed deadline of the end of September. "Unfortunately, none of the potential investors was able to come forward with a sustainable business concept for the plant," the General Motors unit said in a statement.

As a result, the process to search for an industrial investor interested in continuing operations at the plant has ended. "Consistent with our known restructuring plan, we will continue production in Antwerp until the end of this year," the company added. "After then, production will cease and the plant will be closed. "

Opel added that during the wind down period, the company will remain open to discuss any 'reasonable proposals' that might be presented. However, it will no longer actively search for an investor to continue activities.

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