GM's Opel: no investor found to save Antwerp plant

AP News
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Posted: Oct 18, 2010 10:49 AM
GM's Opel: no investor found to save Antwerp plant

General Motors Co.'s Opel unit says it hasn't found an investor to save its plant in Antwerp, Belgium, and confirms that it will shut down at the end of the year.

Opel said two weeks ago that the Antwerp plant would close by year-end, costing 1,200 jobs. It said it hadn't been able to find investors to keep the plant going but remained open for new proposals.

Opel said Monday that "after a further meeting with a potential industrial investor," which it didn't identify, it had concluded talks with "this category of investors."

The company said none presented a positive business case or a future for the employees or the site. It said it would intensify discussions with other investors who might want the site for other uses.